An amalgamation of gold producer Dickenson Mines (TSE) and its parent Goldcorp (TSE) has been proposed by the owner of Goldcorp, CSA Management. Goldcorp has a 69.3% equity interest in Dickenson, which operates the White mine at Red Lake, Ont.
Proposed is that holders of each Goldcorp A share would receive 1.4 A shares (subordinate-voting) of the new company; holders of each Goldcorp common share would receive 1.4 B shares (multiple-voting) of the new company; holders of each Dickenson A share (subordinate-voting) would receive one A share (subordinate-voting) of the new company; and holders of each Dickenson B share (multiple-voting) would receive one multiple-voting share of the new company.
The new company’s A shares would carry one vote each and the B shares, 10 votes each.
CSA, with 100% voting control of Goldcorp, would relinquish that control for multiple-voting shares of the new company and warrants. CSA would end up with an undiluted 18.1% equity interest and 34.1% voting interest in the new company.
The new company would own a 50.3% interest in heap-leach gold producer Wharf Resources (TSE).
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