Goldcorp acquires Wilanour

Shareholders of Wilanour Resources (WLR-T) have approved a proposed takeover by its major shareholder, Goldcorp (G-T).

Goldcorp recently agreed to purchase 91% of the Wilanour shares it did not already own. Under the terms of the deal, six Wilanour shares will be exchangeable for one Goldcorp unit. Each unit consists of one Goldcorp share and one share purchase warrant; the warrants are exercisable until June 30, 1999 at a price of $7.25 each.

As a result of the takeover, Goldcorp’s land position in Ontario’s Red Lake camp jumps to 31,523 acres from 21,875 acres. Included in the new holdings is a portion of the Campbell Dickinson fault, which also runs through Goldcorp’s Red Lake gold mine property.