McEwen Capital

McEwen Capital

October 24, 2006 21:02 ET

McEwen Capital: Court Denies Goldcorp Shareholders a Vote! Disappointing, but Not Over Yet!

TORONTO, ONTARIO--(CCNMatthews - Oct. 24, 2006) - ROB McEWEN, GOLDCORP'S LARGEST INDIVIDUAL SHAREHOLDER, announces that the Ontario Superior Court has refused to order Goldcorp to have a shareholder vote on its proposed $8.6 billion deal with Glamis Gold.

"I am disappointed by the Court's decision and remain convinced that having no shareholder vote on such a fundamental and dilutive transaction is not in the best interests of shareholders. This was round one! I will be exploring further legal options in order to get Goldcorp shareholders a vote. Legal merits aside, I believe Goldcorp's Board of Directors has not lived up to the highest standard of corporate governance. If they had, Goldcorp's Board would have respected its shareholders, the owners of the company, enough to give them a vote on such a significant deal," stated Rob McEwen.

"I want to thank all Goldcorp shareholders that expressed their support for a vote! McEwen Capital received over 1,200 Support Forms representing 27.3 million shares! Also, I want to recognize the leadership role taken by the Ontario Teachers' Pension Plan, who publicly stated that Goldcorp shareholders should have a vote."

"I continue to encourage all shareholders who want a vote to fill out a Support Form at www.robmcewen.com/support/ and send it back," concluded McEwen.

To view the Courts decision in detail, please click on the following link: http://www.robmcewen.com/court-filing/9/.

Contact Information

  • McEwen Capital Corporation
    Robert R. McEwen
    Toll Free: 1-866-441-0690 or (647) 258-0395
    (647) 258-0408 (FAX)
    or
    McEwen Capital Corporation
    Ian J. Ball
    Toll Free: 1-866-441-0690 or (647) 258-0395
    (647) 258-0408 (FAX)
    or
    McEwen Capital Corporation
    Stefan M. Spears
    Toll Free: 1-866-441-0690 or (647) 258-0395
    (647) 258-0408 (FAX)
    Email: info@mcewencapital.com