TSX: G $ 21.20 -0.04 -0.19% Volume: 1,681,301 March 24, 2017
NYSE: GG $ 15.84 -0.07 -0.44% Volume: 4,396,447 March 24, 2017
GOLD: US $ 1,244.93 -1.12 -0.09% Volume: March 24, 2017

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Investor-Resources

Tax Information for Former Shareholders of Probe Mines Limited

For summary information about the tax considerations for former shareholders of Probe Mines Limited that had their common shares of Probe Mines Limited acquired by Goldcorp Inc. pursuant to the Plan of Arrangement implemented prior to the opening of the Toronto Stock Exchange on 13 March 2015, please refer to the tax language (pages 12 to 13, and 53 to 68) in the Probe Mines Limited Notice of Meeting and Management Information Circular relating to the Special Meeting of Shareholders held on 11 March 2015 (“Probe Mines Management Information Circular”) as posted on SEDAR on 10 February 2015. Capitalized terms used (and not otherwise defined herein) have the meanings set forth under the Glossary of Terms within the Probe Mines Management Information Circular.

Click here to view the Probe Mines Management Information Circular

Summary

The Plan of Arrangement was implemented before the Toronto Stock Exchange opened on 13 March 2013.

A Probe Mines Shareholder should have received in two separate and sequential commercial steps the following for each Probe Mines Share held:

                1/3 of a New Probe Share (received as a distribution from Probe Mines), and    

                0.1755 of a Goldcorp Share plus C$0.001 in Cash (received from Goldcorp).                                                                                                                    

The fraction of a New Probe Share was distributed by (and received from) Probe Mines. Fractional New Probe Shares were not issued, so the aggregate number of New Probe Shares you are entitled to receive was rounded down to the next whole number.

Goldcorp Shares and Cash were delivered by (and received from) Goldcorp Inc. Fractional Goldcorp Shares were not issued, so the aggregate number of Goldcorp Shares you are entitled to receive was rounded down to the next whole number. Aggregate Cash you are entitled to receive was rounded up to the next whole cent.

The estimated value of a whole Goldcorp Share is C$23.62 at the time of delivery by Goldcorp. This equals the closing price of a Goldcorp Share on the Toronto Stock Exchange on 12 March 2015.

The implicit estimated value of a whole New Probe Share is C$0.43 at the time of delivery by Probe Mines, based on implementation of the Plan of Arrangement and the $4.29 closing price of a Probe Mines Share on the Toronto (TSX Venture) Stock Exchange on 12 March 2015. New Probe Shares expect to begin trading on the Toronto (TSX Venture) Stock Exchange under the legal name of Probe Metals Inc.

Canadian shareholders of Probe Mines Limited

Probe Mines Shareholders residing in Canada should refer to the Canadian tax guidance (pages 12 to 13, and pages 53 to 60) of the Probe Mines Management Information Circular that explains the income tax results of:

a)      distribution of New Probe Shares by Probe Mines (page 54), and

b)      exchange of Probe Mines Shares for Goldcorp Shares and Cash (pages 55 to 58).

No taxable dividend should result to Probe Mines shareholders as mentioned on page 54 of the Probe Mines Management Information Circular because the aggregate estimated value of New Probe Shares distributed by Probe Mines should not have exceed the estimated aggregate paid-up capital of outstanding Probe Mines Shares at the time of distribution of the New Probe Shares.

Notice: The option for Canadian Probe Mines Shareholders to exchange Probe Mines Shares for Goldcorp Shares and Cash pursuant to a Section 85 Tax Election has now lapsed. Thus, the tax language of the Probe Mines Management Information Circular (pages 55 to 57) explaining the possibility of deferring Canadian federal and provincial income taxes is no longer an alternative available for use by a Canadian Probe Mines Shareholder.

United States shareholders of Probe Mines Limited

Probe Mines Shareholders residing within the United States should refer to the US tax guidance (page 13, and pages 61 to 68) of the Probe Mines Management Information Circular that explains the United States income tax results of:

a)            distribution of New Probe Shares by Probe Mines (pages 61 to 68), and

b)            exchange of Probe Mines Shares for Goldcorp Shares and Cash (pages 61 to 68).

United States citizens and United States resident shareholders might find helpful the US Internal Revenue Service tax Form 8937 called “Report of Organizational Actions Affecting Basis of Securities”. A link to the IRS tax form is below.

Click here to access Goldcorp prepared IRS Form 8937

United States resident shareholders should also refer to the Canadian tax guidance (pages 58 to 60) of the Probe Mines Management Information Circular that explains the Canadian income tax results of:

a)            distribution of New Probe Shares by Probe Mines (pages 58 to 59), and

b)            exchange of Probe Mines Shares for Goldcorp Shares and Cash (pages 59 to 60).

Notice: The option for Non-Resident Probe Mines Shareholders to exchange Probe Mines Shares for Goldcorp Shares and Cash pursuant to a Section 85 Tax Election has now lapsed. Thus, the tax language of the Probe Mines Management Information Circular (pages 59 to 60) explaining the possibility of deferring Canadian federal and provincial income taxes is no longer an alternative for use by a Non-Resident Probe Mines Shareholder.

Shareholders of Probe Mines Limited residing outside Canada & United States

Probe Mines Shareholders residing outside Canada and the United States should consult your own tax advisor regarding the local country tax implications from the Plan of Arrangement that was implemented prior to the opening of Canada’s Toronto Stock Exchange on 13 March 2015.

Please refer to the Canadian tax guidance (pages 58 to 60) of the Probe Mines Management Information Circular that explains the Canadian income tax results for a non-resident of Canada in relation to:

a)            distribution of New Probe Shares by Probe Mines (pages 58 to 59), and

b)            exchange of Probe Mines Shares for Goldcorp Shares and Cash (pages 59 to 60).

Notice: The option for Non-Resident Probe Mines Shareholders to exchange Probe Mines Shares for Goldcorp Shares and Cash pursuant to a Section 85 Tax Election has now lapsed. Thus, the tax language of the Probe Mines Management Information Circular (pages 59 to 60) explaining the possibility of deferring Canadian federal and provincial income taxes is no longer an alternative for use by a Non-Resident Probe Mines Shareholder.

Notice to all shareholders of Probe Mines Limited

All shareholders of Probe Mines should consult their own tax advisors regarding the income tax consequences of the Plan of Arrangement applicable to their particular circumstances. The tax language provided in the Probe Mines Management Information Circular should be helpful in the discussions with your tax advisor. Goldcorp is not responsible for the tax reporting obligations required by the shareholders of Probe Mines Limited.

TSX: G $ 21.20 -0.04 -0.19% Volume: 1,681,301 March 24, 2017
NYSE: GG $ 15.84 -0.07 -0.44% Volume: 4,396,447 March 24, 2017
GOLD: US $ 1,244.93 -1.12 -0.09% Volume: March 24, 2017