Goldcorp Inc (GG
) has agreed to sell its San Dimas gold-silver mine in Mexico, to Mala Noche Resources Corp. [TSX-V:MLA] in a cash-and-stock deal worth US$500m. The company said that the disposal will allow it to focus on its cornerstone assets.
Under the terms of the deal, Goldcorp will receive US$275 million in cash, Mala Noche common shares worth US$175 million, and a 5-year US$50 million promissory note bearing 6% interest per annum. Upon completion, Goldcorp is expected to own approximately 30% of Mala Noche.
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