Probe Mines Limited
TSX VENTURE : PRB

Probe Mines Limited

March 13, 2015 17:05 ET

Goldcorp Completes Acquisition of Probe Mines

TORONTO, ONTARIO--(Marketwired - March 13, 2015) - Probe Mines Limited (TSX VENTURE:PRB) ("Probe" or the "Company") is pleased to announce that Goldcorp Inc. (TSX:G)(NYSE:GG) ("Goldcorp") has completed its previously announced acquisition of Probe by way of a plan of arrangement (the "Arrangement").

Delisting of Probe's common shares from the TSX Venture Exchange is expected to occur at the close of business on or about March 16, 2015.

Pursuant to the Arrangement, for each Probe share that they hold Probe shareholders will receive 0.1755 of a common share of Goldcorp, $0.001 in cash and 0.3333 of a common share of Probe Metals Inc. a newly incorporated company. Trading of Probe Metals Inc. on the TSX Venture Exchange is expected to commence on or about March 17, 2015 under the ticker symbol "PRB".

About Probe Mines:

Probe Mines Limited is a Canadian precious metals exploration company whose key asset is the 100%-owned Borden Gold project near Chapleau in Ontario, Canada. The Company owns a significant gold resource on its Borden Gold project and controls a large land package in the Borden Gold District representing 786-square-kilometres of exploration potential. The Company also has a 100% interest in the Black Creek chromite deposit located in Northern Ontario.

About Goldcorp:

Goldcorp is one of the world's fastest growing gold producers. Its low-cost gold production is located in safe jurisdictions in the Americas and remains 100% unhedged.

On behalf of Probe Mines Limited,

Dr. David Palmer, President & Chief Executive Officer

Forward-Looking Statements

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, statements with respect to the delisting of Probe's shares. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Shares Issued: 94,114,503

Contact Information

  • Probe Mines Limited
    Karen Willoughby
    Director of Corporate Communications
    (866) 936-6766
    info@probemines.com

    Probe Mines Limited
    Patrick Langlois
    Vice President, Corporate Development
    (416) 777-6703
    patrick@probemines.com