Goldcorp buys Placer Dome assets from Barrick for US$1.4 billion

Goldcorp Inc., the world's lowest cost and fastest growing million ounce gold producer, entered into an agreement last fall with Barrick Gold Corp. Goldcorp agreed to purchase certain of Placer Dome Inc.'s subsidiaries and an interest in a development project, following successful completion of Barrick's offer to acquire Placer Dome. Barrick's US$10.5 billion takeover of Placer Dome was announced on February 6, 2006. The Goldcorp transaction closed May 12, 2006. Fasken Martineau partner John Torrey advised two banking syndicates with respect to credit facilities aggregating US$1.4 billion in favour of Goldcorp, the proceeds of which were used to finance the Goldcorp transaction.