Document:

exv4w56

 

This document is important and requires
your immediate attention. If you are in doubt as to how to deal
with it, you should consult your investment dealer, broker, bank
manager, lawyer or other professional advisor. No securities
regulatory authority has expressed an opinion about these
securities and it is an offence to claim
otherwise.

The Offer has not been approved or
disapproved by any securities regulatory authority nor has any
securities regulatory authority passed upon the fairness or
merits of the Offer or upon the adequacy of the information
contained in this document. Any representation to the contrary
is unlawful.

February 14, 2005

NOTICE OF EXTENSION AND SUBSEQUENT OFFERING
PERIOD

by

and its wholly-owned subsidiary Goldcorp
Acquisition ULC

of their

OFFER TO PURCHASE

all of the outstanding common shares of

WHEATON RIVER MINERALS LTD.

on the basis of 0.25 of a common share of
Goldcorp Inc.

for each common share of Wheaton River
Minerals Ltd.

			
	 	
    THE OFFER HAS BEEN EXTENDED AND IS NOW OPEN FOR
    ACCEPTANCE UNTIL 5:00 P.M.
    	 
	 	
    (TORONTO TIME) ON FEBRUARY 28, 2005,
    UNLESS WITHDRAWN OR FURTHER EXTENDED.
    	 
	 	
    THE PERIOD BEGINNING AT 5:00 P.M. (VANCOUVER
    TIME) ON FEBRUARY 14, 2005 AND ENDING AT 5:00 P.M.
    (TORONTO TIME) ON FEBRUARY 28, 2005 IS A SUBSEQUENT
    OFFERING PERIOD UNDER RULE 14d-11 OF THE U.S. EXCHANGE ACT.
    	 

			
	 	
    Goldcorp Inc. (“Goldcorp”) and its
    wholly-owned subsidiary Goldcorp Acquisition ULC
    (“Subco” and, together with Goldcorp, the
    “Offerors”) hereby give notice that they have extended
    the expiry time of their offer to purchase (the
    “Offer”) all of the issued and outstanding common
    shares (“Common Shares”) in the capital of Wheaton
    River Minerals Ltd. (“Wheaton”) to 5:00 p.m.
    (Toronto time) on February 28, 2005, unless the Offer is
    withdrawn or further extended by the Offerors.
    	 

This Notice of Extension should be read in
conjunction with the offer to purchase and accompanying circular
of the Offerors dated December 29, 2004 (the
“Take-over Bid Circular”), the accompanying Letter of
Acceptance and Transmittal, the Notice of Guaranteed Delivery,
the Notice of Extension dated January 24, 2005 and the
Schedule TO (the “Schedule TO”) filed with
the United States Securities and Exchange Commission (the
“SEC”) on December 29, 2004, as amended by
amendments to the Schedule TO filed with the SEC on
January 14, 2005, January 21, 2005, January 25,
2005, January 26, 2005, January 27, 2005,
January 28, 2005, February 3, 2005, February 4,
2005, February 8, 2005, February 9, 2005,
February 10, 2005 and February 11, 2005 (collectively,
the “Offer and Circular”). Except as otherwise set
forth in this Notice of Extension, the information, terms and
conditions in the Offer and Circular continue to be applicable
in all respects and this Notice of Extension should be read in
conjunction with the Offer and Circular, the provisions of which
(as hereby amended) are incorporated herein by reference. Unless
the context otherwise requires, terms not defined herein have
the meanings ascribed thereto in the Offer and Circular.

Holders of Common Shares
(“Shareholders”) who have validly deposited and not
withdrawn their Common Shares need take no further action to
accept the Offer. The Offerors will
immediately take up all Common Shares that were deposited prior
to 5:00 p.m. (Vancouver time) on February 14, 2005 and
payment for such Common Shares will be made on February 17,
2005. Shareholders who wish to accept the Offer must properly
complete and duly execute the Letter of Acceptance and
Transmittal (printed on blue paper) which accompanied the
Take-over Bid Circular or a manually signed facsimile thereof
and deposit it, together with certificates representing their
Common Shares, in accordance with the instructions in the Letter
of Acceptance and Transmittal. Alternatively, Shareholders may
follow the procedures for guaranteed delivery set forth in the
section entitled “Manner of Acceptance —
Procedure for Guaranteed Delivery” in the Offer and
Circular, using the Notice of Guaranteed Delivery (printed on
green paper) accompanying the Take-over Bid Circular or a
facsimile thereof. Shareholders whose Common Shares are
registered in the name of a nominee should contact their broker,
investment dealer, bank, trust company or other nominee for
assistance in depositing their Common Shares to the Offer.

Questions and requests for assistance may be
directed by Shareholders in Canada to Kingsdale Shareholder
Services Inc. and by Shareholders in the U.S. and other
locations to Innisfree M&A Incorporated, the
information agents for the Offer.
Additional copies of this document, the Offer and Circular and
related materials may be obtained without charge on request from
the information agents at their respective addresses shown on
the last page of this document.

This document does not constitute an offer or
a solicitation to any person in any jurisdiction in which such
offer or solicitation is unlawful. The Offer is not being made
to, nor will deposits of Common Shares be accepted from or on
behalf of, Shareholders in any jurisdiction in which the making
or acceptance of the Offer would not be in compliance with the
laws of such jurisdiction. However, the Offerors may, in their
sole discretion, take such action as they may deem necessary to
extend the Offer to Shareholders in any such
jurisdiction.

The Dealer Managers for the Offer
are:

	 	 	 
	 
	
    
    In Canada:

    	 	
    In the United States:
	 
	
    
    GMP SECURITIES LTD.

    	 	
    GRIFFITHS McBURNEY CORP.

    BEAR, STEARNS & CO. INC.

 

NOTICE TO SHAREHOLDERS IN THE UNITED
STATES

THIS TRANSACTION HAS NOT BEEN APPROVED OR
DISAPPROVED BY THE UNITED STATES SECURITIES AND EXCHANGE
COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE
SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES
COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THE OFFER AND
CIRCULAR. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL
OFFENCE.

The Offer is made for shares of a Canadian
issuer by a Canadian issuer that is permitted, under a
multijurisdictional disclosure system adopted by the United
States, to prepare this document in accordance with the
disclosure requirements of Canada. Shareholders should be aware
that such requirements are different from those of the United
States. Financial statements included herein have been prepared
in accordance with Canadian generally accepted accounting
principles and may be subject to Canadian auditing and auditor
independence standards, and thus may not be comparable to
financial statements of United States companies. This document
will form a part of a registration statement on Form F-10.
A reconciliation between Canadian generally accepted accounting
principles and U.S. generally accepted accounting
principles as they relate to the Goldcorp financial statements
and the pro forma financial statements are included or
incorporated by reference in this document and in the
registration statement.

Shareholders in the United States should be
aware that the disposition of Common Shares and acquisition of
Goldcorp Shares as described herein may have tax consequences
both in Canada and the United States. The material tax
consequences for such Shareholders are described in
“Certain Canadian Federal Income Tax Considerations”
and “Certain United States Federal Income Tax
Considerations”, respectively, in the Offer and Circular.
Shareholders should consult their own tax advisors regarding the
specific tax consequences to them of the disposition of Common
Shares and acquisition of Goldcorp Shares as described
herein.

The enforcement by Shareholders of civil
liabilities under United States federal securities laws may be
affected adversely by the fact that Goldcorp and Wheaton are
incorporated under laws outside the United States, that some or
all of their officers and directors reside outside the United
States, that some or all of the experts named in the Offer and
Circular reside outside the United States and that all or a
substantial portion of the assets of Goldcorp and Wheaton and of
the above-mentioned persons may be located outside the United
States. Shareholders may not be able to sue Goldcorp or Wheaton,
or any of their respective officers, directors or experts, in a
Canadian court for violations of United States securities laws.
It may be difficult to compel Goldcorp or Wheaton or any of
their respective officers, directors or experts to subject
themselves to a judgment of a United States court.

CURRENCY AND FINANCIAL INFORMATION

All dollar references in this document and in the
Offer and Circular are in United States dollars, unless
otherwise indicated. References to “C$” are to
Canadian dollars. The following table sets forth, for each of
the periods indicated, the exchange rate of one United States
dollar into Canadian dollars at the end of each such year, the
average exchange rate during each such year and the range of
high and low rates for each such year.

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
													
			Nine Months Ended			
			September 30,			Year Ended December 31,	
			
			
	
			2004			2003			2003			2002			2001			2000			1999	
			
			
			
			
			
			
			
	
	
    
    Rate at end of period (1)
    

    	 	 	1.3507	 	 	 	1.2648	 	 	 	1.2924	 	 	 	1.5800	 	 	 	1.5925	 	 	 	1.4995	 	 	 	1.4440	 
	
    
    Average rate (2)
    

    	 	 	1.3282	 	 	 	1.4296	 	 	 	1.4010	 	 	 	1.5702	 	 	 	1.5519	 	 	 	1.4855	 	 	 	1.4828	 
	
    
    High rate (1)
    

    	 	 	1.5750	 	 	 	1.3970	 	 	 	1.5747	 	 	 	1.6128	 	 	 	1.6023	 	 	 	1.5592	 	 	 	1.5302	 
	
    
    Low rate (1)
    

    	 	 	1.3348	 	 	 	1.2648	 	 	 	1.2924	 	 	 	1.5108	 	 	 	1.4933	 	 	 	1.4350	 	 	 	1.4440	 

		
	(1)	
    The rate of exchange means the noon buying rate
    in New York City for cable transfers in foreign currencies as
    certified for customs purposes by the Federal Reserve Bank of
    New York.
    
	 
	(2)	
    The average rate means the average of the
    exchange rates on the last day of each month during the period.
    

On February 11, 2005, the noon buying rate
in New York City for cable transfers in foreign currencies as
certified for customs purposes by the Federal Reserve Bank of
New York was $1.00 = C$1.2380.

(ii)

 

Goldcorp’s consolidated financial statements
are prepared in accordance with Canadian generally accepted
accounting principles and filed with appropriate regulatory
authorities in Canada and the United States. Application of
accounting principles generally accepted in the United States
does not have a significant impact on Goldcorp’s results of
operations and financial position. Note 15 of the Notes to
the 2003 Consolidated Financial Statements of Goldcorp outlines,
in all material respects, differences resulting from the
application of accounting principles generally accepted in the
United States.

FORWARD-LOOKING STATEMENTS

Certain statements included in the Offer and
Circular constitute “forward-looking statements”
concerning the business, operations and financial performance
and condition of the Offerors. Such forward-looking statements,
including, but not limited to, those with respect to the prices
of gold, copper and silver, the timing and amount of estimated
future production, costs of production, capital expenditures,
reserves determination, costs and timing of the development of
new deposits and permitting time lines, involve known and
unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of Goldcorp to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors include, among others, the actual
results of current exploration activities, actual results of
current reclamation activities, conclusions of economic
evaluations, changes in project parameters as plans continue to
be refined and the future prices of gold, copper and silver.
Although Goldcorp has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking statements, there may be other
factors that cause results not anticipated, estimated or
intended. There can be no assurance that such statements will
prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements.

Many of these factors are beyond the control of
the Offerors and their subsidiaries. Consequently, all of the
forward-looking statements made in the Offer and Circular are
qualified by these cautionary statements and there can be no
assurance that the expected results or developments anticipated
by Goldcorp will be realized.

INFORMATION CONCERNING WHEATON

The information concerning Wheaton contained in
the Offer and Circular has been taken from or is based upon
publicly available documents and records on file with the
Canadian securities regulatory authorities, and other public
sources. Although Goldcorp has no knowledge that would indicate
that any statements contained herein relating to Wheaton taken
from or based upon such documents, records and sources are
untrue or incomplete, neither of the Offerors, nor any of their
officers or directors, assumes any responsibility for the
accuracy or completeness of the information relating to Wheaton
taken from or based upon such documents, records and sources, or
for any failure by Wheaton to disclose events which may have
occurred or which may affect the significance or accuracy of any
such information but which are unknown to the Offerors.

(iii)

 

NOTICE OF EXTENSION AND SUBSEQUENT OFFERING PERIOD

February 14, 2005

TO:   THE SHAREHOLDERS OF
WHEATON RIVER MINERALS LTD.

     
This Notice of Extension and Subsequent Offering
Period (the “Notice of Extension”) amends and
supplements the offer to purchase and accompanying circular of
the Offerors dated December 29, 2004 (the “Take-over
Bid Circular”), the accompanying Letter of Acceptance and
Transmittal, the Notice of Guaranteed Delivery, the Notice of
Extension dated January 24, 2005 and the Schedule TO
(the “Schedule TO”) filed with the United States
Securities and Exchange Commission (the “SEC”) on
December 29, 2004, as amended by amendments to the
Schedule TO filed with the SEC on January 14, 2005,
January 21, 2005, January 25, 2005, January 26,
2005, January 27, 2005, January 28, 2005,
February 3, 2005, February 4, 2005, February 8,
2005, February 9, 2005, February 10, 2005 and
February 11, 2005 (collectively, the “Offer and
Circular”). Except as otherwise set forth in this Notice
of Extension, the information, terms and conditions in the Offer
and Circular continue to be applicable in all respects and this
Notice of Extension should be read in conjunction with the Offer
and Circular, the provisions of which (as hereby amended) are
incorporated herein by reference. Unless the context
otherwise requires, terms not defined herein have the meanings
ascribed thereto in the Offer and Circular. Unless the context
otherwise requires, references to the “Offer” means
the offer by the Offerors to purchase Common Shares as set out
in the Offer and Circular, as varied by this Notice of
Extension.

1.   Extension of the
Offer/Subsequent Offering Period

     
By press release issued by the Offerors, and
notice delivered to the Depositary, on February 14, 2005,
the Offerors have extended the Expiry Time of the Offer from
5:00 p.m. (Vancouver time) on February 14, 2005 to
5:00 p.m. (Toronto time) on February 28, 2005 or
such later time and date or times and dates as the Offerors may
fix from time to time pursuant to Section 5 of the Offer,
“Extension and Variation of the Offer”, unless the
Offer is withdrawn. As of February 14, 2005, approximately
396,603,552 million Common Shares (representing
approximately 69% of the outstanding Common Shares) have been
deposited pursuant to the Offer. The Offerors will immediately
take up all Common Shares that were deposited prior to
5:00 p.m. (Vancouver time) on February 14, 2005 and
payment for such Common Shares will be made on February 17,
2005.

     
Although it does constitute an extension of the
Offer under Canadian securities laws, the extension of the Offer
until 5:00 p.m. (Toronto time) on February 28, 2005
pursuant to this Notice of Extension does not constitute an
extension of the Offer for the purposes of the U.S. Exchange
Act. For the purposes of the U.S. Exchange Act, the extension
described in this Notice of Extension constitutes a
“Subsequent Offering Period” under the
Rule 14d-11 of the U.S. Exchange Act. For purposes of the
U.S. Exchange Act, the Subsequent Offering Period is an
additional period of time beginning at 5:00 p.m. (Vancouver
time) on February 14, 2005 and ending at 5:00 p.m.
(Toronto time) on February 28, 2005 during which
Shareholders may deposit Common Shares not deposited prior to
5:00 p.m. (Vancouver time) on February 14, 2005. For
purposes of applicable Canadian securities laws, the Subsequent
Offering Period is an additional period of time by which the
Offer is extended, following the satisfaction of all conditions
of the Offer and the take up of all Common Shares then deposited
under the Offer, and during which period Shareholders may
deposit Common Shares not deposited prior to the commencement of
the Subsequent Offering Period with respect to the Offer. The
same form and amount of consideration will be paid to
Shareholders depositing Common Shares during the Subsequent
Offering Period as will be paid to Shareholders who deposited
their Common Shares prior to the commencement of the Subsequent
Offering Period. Notwithstanding the provisions of the U.S.
Exchange Act regarding subsequent offering periods, the Offerors
will permit withdrawal of Common Shares deposited during any
Subsequent Offering Period at any time prior to the expiry of
such Subsequent Offering Period; provided, however, that this
right of withdrawal will not apply in respect of Deposited
Securities taken up by the Offeror prior to the Subsequent
Offering Period. Withdrawing holders of Common Shares who have
deposited such Common Shares during the Subsequent Offering
Period and have received payment for such Common Shares must
return such payment to the applicable Offeror prior to any
withdrawal.

2.   Conditions of the
Offer

     
The Offer remains subject to the conditions set
forth in Section 4 of the Offer and Circular,
“Conditions of the Offer”. All of the conditions to
the Offer have been satisfied.

1

 

3.   Changes in Information in
the Offer and Circular

Special Dividend to Goldcorp
Shareholders

     
On February 8, 2005, Goldcorp announced by
press release that a special cash dividend of $0.50 per Goldcorp
Share (the “Special Dividend”) would be paid, subject
to the successful completion of the Offer, to the holders of
Goldcorp Shares (the “Goldcorp Shareholders”) as an
incentive for the Goldcorp Shareholders to vote in favour of the
issuance of Goldcorp Shares necessary to effect the Wheaton
transaction.

     
As the Offer has been successfully completed, the
Special Dividend will be paid on February 28, 2005 to
Goldcorp shareholders of record on February 16, 2005. The
Special Dividend will not be received by holders of Common
Shares who tender their Common Shares to the Offer. Wheaton has
consented to the declaration and payment of the Special Dividend.

     
The payment of the Special Dividend will have no
material impact on the pro forma financial statements
contained in the Offer and Circular or on earnings per share and
other similar financial calculations of the combined company
resulting from the completion of the Offer and the Subsequent
Acquisition Transaction.

Recent Prices of Common Shares and Goldcorp
Shares

     
The closing prices of the Common Shares on the
TSX and the AMEX on February 11, 2005 were C$4.11 and
$3.33, respectively. The closing prices of the Goldcorp Shares
on the TSX and the NYSE on February 11, 2005 were C$17.07
and $13.79, respectively.

4.   Recent
Developments

Offer for Wheaton

     
On January 24, 2005, Goldcorp mailed a
Notice of Extension to the Wheaton Shareholders, notifying the
Wheaton Shareholders that the Offerors extended the Expiry Time
of the Offer to 5:00 p.m. (Vancouver time) on
February 14, 2005.

Consideration of the Wheaton Transaction by
the Goldcorp Shareholders

     
On January 28, 2005, Glamis filed an
information supplement to its dissident proxy circular with
respect to the Goldcorp Meeting.

     
On February 10, 2005, the Goldcorp
Shareholders voted in favour of the Wheaton transaction at the
Goldcorp Meeting, thereby satisfying one of the conditions of
the Offer.

Glamis Offer for Goldcorp

     
On February 7, 2005, Glamis issued a press
release announcing its plan to increase the consideration under
the Glamis Offer from 0.89 to 0.92 of a common share of Glamis
for each Goldcorp Share and extending the expiry time of the
Glamis Offer from February 14, 2005 to February 24,
2005. Glamis filed with applicable securities regulatory
authorities its revised offer to Goldcorp shareholders on
February 8, 2005.

     
On February 9, 2005, the shareholders of
Glamis voted in favour of removing the restriction on the number
of common shares that Glamis is authorized to issue, satisfying
one of the conditions of the Glamis Offer.

     
On February 10, 2005, Glamis announced that,
because the Goldcorp Shareholders approved the Wheaton
transaction, the conditions to the Glamis Offer could not be
satisfied and, therefore, Glamis intended to allow the Glamis
Offer to expire as scheduled on February 24, 2005 without
taking up any Goldcorp Shares, effectively terminating the
Glamis Offer.

5.   Time for
Acceptance

     
Common Shares not previously deposited to the
Offer may be deposited in accordance with the provisions of
Section 2 of the Offer entitled “Time for
Acceptance”, until the Expiry Time, being 5:00 p.m.
(Toronto time) on February 28, 2005.

2

 

6.   Withdrawal of Deposited
Common Shares

     
Except as otherwise stated in this
Section 6, all deposits of Common Shares pursuant to the
Offer are irrevocable. Unless otherwise required or permitted by
applicable Law, any Common Shares deposited in acceptance of the
Offer may be withdrawn by or on behalf of the depositing
Shareholder:

			
	 	(a)	
    at any time before the Common Shares have been
    taken up by the Offerors pursuant to the Offer;
    
	 
	 	(b)	
    at any time before the expiration of 10 Business
    Days from the date upon which either:
    

			
	 	(i)	
    a notice of change relating to a change which has
    occurred in the information contained in the Offer or the
    Circular, each as amended from time to time, which change is one
    that would reasonably be expected to affect the decision of a
    Shareholder to accept or reject the Offer (other than a change
    that is not within the control of the Offerors or of an
    Affiliate of the Offerors) in the event that such change occurs
    before the Expiry Time or after the Expiry Time but before the
    expiry of all rights of withdrawal in respect of the Offer; or
    
	 
	 	(ii)	
    a notice of variation concerning a variation in
    the terms of the Offer (other than a variation consisting solely
    of an increase in the consideration offered for the Common
    Shares under the Offer where the time for deposit is not
    extended for a period greater than 10 days);
    

		
	 	
    is mailed, delivered or otherwise properly
    communicated, but only if such deposited Common Shares have not
    been taken up by the Offerors at the time of the notice and
    subject to abridgement of that period pursuant to such order or
    orders as may be granted by Canadian courts or securities
    regulatory authorities; or
    

			
	 	(c)	
    if the Common Shares have not been paid for by
    the Offerors within 3 Business Days after having been taken up;
    
	 
	 	(d)	
    during a Subsequent Offering Period; provided,
    however, that this right of withdrawal will not apply in respect
    of Common Shares taken up by an Offeror prior to the Subsequent
    Offering Period; and
    
	 
	 	(e)	
    as required by the U.S. Exchange Act, at any
    time after February 26, 2005 provided that the Common
    Shares have not been accepted for payment by the purchasing
    Offeror prior to the receipt by the Depositary of the notice of
    withdrawal in respect of such Common Shares.
    

     
If the Offerors waive any terms or conditions of
the Offer and extend the Offer in circumstances where the rights
of withdrawal set forth in Section 6(b) above are
applicable, the Offer shall be extended without the Offerors
first taking up the Common Shares that are subject to the rights
of withdrawal.

     
Withdrawals of Common Shares deposited to the
Offer must be effected by notice of withdrawal made by or on
behalf of the depositing Shareholder and must be received by the
Depositary at the place of deposit of the applicable Common
Shares within the time limits indicated above. Notice of
withdrawal must: (i) be made by a method, including a
manually signed facsimile transmission, that provides the
Depositary with a written or printed copy; (ii) be signed
by the person who signed the Letter of Acceptance and
Transmittal accompanying, or the Notice of Guaranteed Delivery
in respect of, the Common Shares that are to be withdrawn; and
(iii) specify such person’s name, the number of Common
Shares to be withdrawn, the name of the registered holder and
the certificate number shown on each certificate representing
the Common Shares to be withdrawn. The withdrawal will take
effect upon receipt by the Depositary of the properly completed
notice of withdrawal. Any signature on the notice of withdrawal
must be guaranteed by an Eligible Institution in the same manner
as in a Letter of Acceptance and Transmittal (as described in
the instructions set out in such letter), except in the case of
Common Shares deposited for the account of an Eligible
Institution. None of the Offerors, the Depositary, or any other
person will be under any duty to give notice of any defect or
irregularity in any notice of withdrawal or shall incur any
liability for failure to give such notice.

     
Withdrawals may not be rescinded and any Common
Shares withdrawn will thereafter be deemed not validly deposited
for purposes of the Offer. However, withdrawn Common Shares may
be redeposited at any time at or prior to the Expiry Time by
again following one of the procedures described in the section
entitled “Manner of Acceptance” in the Offer.

     
The ability of a purchasing Offeror to delay the
payment for Common Shares that such Offeror has taken up is
limited by Rule 14e-1(c) under the U.S. Exchange Act,
which requires that a bidder pay the consideration offered or
return the securities deposited by or on behalf of
securityholders promptly after the termination or withdrawal of
such

3

 

bidder’s offer, unless such bidder elects to
offer a subsequent offering period and pays for the securities
deposited during the subsequent offering period in accordance
with Rule 14d-11 under the U.S. Exchange Act. The
Depositary, on behalf of the Offerors, is bound by
Rule 14e-1(c) under the U.S. Exchange Act in retaining
Deposited Shares under these circumstances.

     
Notwithstanding the provisions of United States
federal securities laws relating to subsequent offering periods,
the Offerors will permit withdrawal of deposited Common Shares
during the Subsequent Offering Period at any time prior to the
Expiry Time of such Subsequent Offering Period; provided,
however, that this right of withdrawal will not apply in respect
of Deposited Shares taken up by an Offeror prior to the
Subsequent Offering Period. Withdrawing holders of Common Shares
who have deposited such Common Shares during the Subsequent
Offering Period and have received payment for such Common Shares
must return such payment to the applicable Offeror prior to any
withdrawal.

     
If the Offerors are delayed in taking up or
paying for Common Shares or are unable to take up or pay for
Common Shares for any reason, then, without prejudice to the
Offerors’ other rights, Common Shares may not be withdrawn
except to the extent that depositing Shareholders are entitled
to withdrawal rights as set forth in this Section 6 or
pursuant to Laws.

     
In addition to the foregoing rights of
withdrawal, holders of Common Shares in certain provinces of
Canada are entitled to statutory rights of rescission or to
damages, or both, in certain circumstances. Please see the
section entitled “Offerees’ Statutory Rights” in
the Circular.

     
All questions as to the validity (including
timely receipt) and form of notices of withdrawal will be
determined by the Offerors and the Depositary (on behalf of the
Offerors) in their sole discretion, and such determination will
be final and binding.

7.   Payment for Deposited
Common Shares

     
During the period beginning at 5:00 p.m.
(Vancouver time) on February 14, 2005 and ending at
5:00 p.m. (Toronto time) on February 28, 2005, the
Offerors will take up Common Shares validly deposited under the
Offer and not withdrawn pursuant to Section 6 above
promptly as such Common Shares are tendered. The Offerors are
obligated to pay for Common Shares that they have taken up
promptly after taking up such Common Shares. Any Common Shares
deposited under the Offer after the first date on which Common
Shares have been taken up by the Offerors will be taken up and
paid for promptly.

     
The Offerors will pay for Common Shares validly
deposited under the Offer and not withdrawn by providing the
Depositary with sufficient certificates representing Goldcorp
Shares for transmittal to depositing Shareholders. Under no
circumstances will interest accrue or be paid by the Offerors or
the Depositary to persons depositing Common Shares on the
purchase price of Common Shares purchased by the Offerors,
regardless of any delay in making such payment. The Depositary
will act as the agent of persons who have deposited Common
Shares in acceptance of the Offer for the purposes of receiving
share certificates from the Offerors and transmitting such share
certificates to such persons, and receipt of certificates
representing Goldcorp Shares by the Depositary shall be deemed
to constitute receipt thereof by persons depositing Common
Shares.

     
Fractions of Goldcorp Shares will not be issued.
Any fractional number of Goldcorp Shares equal to or greater
than 0.5 will be rounded up to the nearest whole number of
Goldcorp Shares and less than 0.5 will be rounded down to the
nearest whole number of Goldcorp Shares.

     
Settlement will be made by the Depositary issuing
or causing to be issued a share certificate representing the
appropriate number of Goldcorp Shares to which the person
depositing Common Shares is entitled. Unless otherwise directed
in the Letter of Acceptance and Transmittal, such share
certificate will be issued in the name of the registered holder
of deposited Common Shares. Unless the person depositing Common
Shares instructs the Depositary to hold the certificate
representing Goldcorp Shares for pick-up by checking the
appropriate box in the Letter of Acceptance and Transmittal,
such share certificate will be forwarded by first class mail,
postage prepaid, to such person at the address specified in the
Letter of Acceptance and Transmittal. If no address is
specified, the share certificate will be forwarded to the
address of the Shareholder as shown on the appropriate share
register maintained by or on behalf of Wheaton. Share
certificates mailed in accordance with this paragraph will be
deemed to have been delivered at the time of mailing.

     
Depositing Shareholders will not be obligated to
pay any brokerage fee or commission if they accept the Offer by
depositing their Common Shares directly with the Depositary.

4

 

8.   Amendment of the
Offer

     
The Offer and Circular are amended to reflect the
new information contained in this Notice of Extension.

9.   Offerees’ Statutory
Rights

     
Securities legislation in certain of the
provinces and territories of Canada provides securityholders of
Wheaton with, in addition to any other rights they may have at
law, rights of rescission or to damages, or both, if there is a
misrepresentation in a circular or notice that is required to be
delivered to such securityholders. However, such rights must be
exercised within prescribed time limits. Shareholders should
refer to the applicable provisions of the securities legislation
of their province or territory for the particulars of those
rights or consult with a lawyer.

10.   Directors’
Approval

     
The contents of this Notice of Extension have
been approved, and the publication and the sending thereof to
the Shareholders has been authorized, by the boards of directors
of the Offerors.

5

 

APPROVAL AND CERTIFICATE OF GOLDCORP
INC.

Dated: February 14, 2005

     
The foregoing, together with the Offer and
Circular, contains no untrue statement of a material fact and
does not omit to state a material fact that is required to be
stated or that is necessary to make a statement not misleading
in the light of the circumstances in which it was made. In
addition, the foregoing does not contain any misrepresentation
likely to affect the value or the market price of the securities
subject to the Offer within the meaning of the
Securities Act (Québec).

GOLDCORP INC.

	 	 	 
	 
	
    (Signed) ROBERT R. MCEWEN
    	 	
    (Signed) BRAD BOLAND
    
	
    Chief Executive Officer
    	 	
    Vice President, Finance
    
	 
	 
	
    On behalf of the Board of Directors
    
	 
	 
	
    (Signed) RONALD M. GOLDSACK
    	 	
    (Signed) DR. DONALD R.M. QUICK
    
	
    Director
    	 	
    Director
    

6

 

APPROVAL AND CERTIFICATE OF GOLDCORP
ACQUISITION ULC

Dated: February 14, 2005

     
The foregoing, together with the Offer and
Circular, contains no untrue statement of a material fact and
does not omit to state a material fact that is required to be
stated or that is necessary to make a statement not misleading
in the light of the circumstances in which it was made. In
addition, the foregoing does not contain any misrepresentation
likely to affect the value or the market price of the securities
subject to the Offer within the meaning of
the Securities Act (Québec).

GOLDCORP ACQUISITION ULC

	 	 	 
	 
	
    (Signed) ROBERT R. MCEWEN
    	 	
    (Signed) BRAD BOLAND
    
	
    Chief Executive Officer
    	 	
    Vice President, Finance
    
	 
	 
	
    On behalf of the Board of Directors
    
	 
	 
	
    (Signed) R. GREGORY LAING
    	 	
    (Signed) GILLES FILION
    
	
    Director
    	 	
    Director
    

7

 

Any questions and requests for assistance may be
directed to

Kingsdale Shareholder Services Inc.

at the telephone number and location set out
below:

     

     

By Mail

The Exchange Tower

130 King Street West, Suite 2950, P.O.
Box 361

Toronto, Ontario

M5X 1E2

     

By Hand or Courier

The Exchange Tower

130 King Street West, Suite 2950

Toronto, Ontario

M5X 1C7

     

North American Toll Free Phone: 1-866-749-5464

Facsimile: 416-867-2271

Toll Free Fax: 1-866-545-5580

Banks and Brokers Call Collect: 416-867-2335

     

     

Shareholders in the U.S. and other locations may

also contact the U.S. information agent:

Toll free from the U.S.: 1-877-750-9501

Call Collect from Other Locations: 646-822-7412

Banks and Brokers Call Collect: 212-750-5833exv4w57

 

CONSENT AND AGREEMENT

	 	 	 
	Re:

	 	Acquisition Agreement dated December 23, 2004 (“Acquisition
Agreement”) between Goldcorp Inc. (“Goldcorp”) and Wheaton River
Minerals Ltd. (“Wheaton”)
	 
	 	 
	Date:

	 	February 7, 2005

     WHEREAS all terms used but not defined herein shall have the meaning given to such terms in
the Acquisition Agreement;

     AND WHEREAS subsection 6.2(b)(ii) of the Acquisition Agreement provides, in part, that unless
Wheaton shall otherwise agree in writing, acting reasonably, Goldcorp will not declare, set aside
or pay any dividend (whether in cash, shares or property) in respect of its shares owned by any
person, except for dividends paid in the ordinary course consistent with past practice;

     AND WHEREAS Goldcorp has advised Wheaton that it wishes to declare a special cash dividend of
U.S.$0.50 per Goldcorp Share (the “Special Goldcorp Dividend”) payable to Goldcorp Shareholders of
record no later than one trading day prior to the payment by Goldcorp for the Wheaton Shares
tendered under the Offer (or such other record date as may be agreed by Goldcorp with the TSX and
the NYSE) and Wheaton has agreed to the declaration, setting aside and payment of the Special
Goldcorp Dividend by Goldcorp;

     NOW THEREFORE IN CONSIDERATION of the covenants and agreements herein contained and other good
and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the
parties hereto hereby acknowledge and agree as follows:

1.     Wheaton consents and agrees to the declaration of the Special Goldcorp Dividend by Goldcorp to
be paid to Goldcorp Shareholders of record no later than one trading day prior to the payment by
Goldcorp for the Wheaton Shares tendered under the Offer (or such other record date as may be
agreed by Goldcorp with the TSX and the NYSE) and Wheaton and Goldcorp agree that the Special
Goldcorp Dividend does not breach, or give rise to any termination rights under, the Acquisition
Agreement.

2.     Wheaton acknowledges and agrees that the Special Goldcorp Dividend will not be paid to Wheaton
Shareholders who tender their Wheaton Shares to the Offer.

3.     Goldcorp represents and warrants to Wheaton that the board of directors of Goldcorp has
determined that the offer from Glamis Gold Ltd. (“Glamis”), as amended on February 7, 2005 to
increase the exchange ratio to 0.92 of a common share of Glamis for each Goldcorp Share tendered
thereunder, does not constitute a Superior Proposal after giving effect to the Special Goldcorp
Dividend and continues to recommend that the shareholders of Goldcorp reject the offer from Glamis
and vote in favour of the resolution to approve the Goldcorp Share Issuance to be considered at the
Goldcorp Meeting to be held on February 10, 2004.

 

 

- 2 -

4.     Wheaton and Goldcorp agree that no notice or other documentation is required to be sent to
Wheaton Shareholders in respect of the matters contemplated by this consent and that the Expiry
Time of the offer will continue to be 5:00 p.m. (Vancouver time) on February 14, 2005.

5.     Each of the parties hereto hereby agrees to sign any further documents, or do any further acts,
that may be required to give full effect to the foregoing.

6.     Except as above provided, each of the parties hereto hereby agrees that the terms and conditions
of the Acquisition Agreement shall remain in full force and effect unamended and the Acquisition
Agreement is hereby confirmed in all respects.

     IN WITNESS WHEREOF Goldcorp and Wheaton have caused this consent to be executed as of the date
first written above by their respective officers thereunto duly authorized.

	 	 	 	 	 
	 	GOLDCORP INC.

 

 	 
	 	By:  	/s/ Robert R. McEwen
 	 
	 	 	Robert R. McEwen 	 
	 	 	Chief Executive Officer 	 
	 
	 
	 	WHEATON RIVER MINERALS LTD.

 

 	 
	 	By:  	/s/ Ian W. Telfer
 	 
	 	 	Ian W. Telfer 	 
	 	 	Chief Executive Officer

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