Teck Resources has announced that its Mexican subsidiary has entered into a binding agreement with a subsidiary of Goldcorp Inc. to purchase its 21% minority interest in the San Nicolás Project located in Zacatecas, Mexico for cash consideration of US$50 million. On completion of the transaction Teck will own 100% of the San Nicolás Project. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2017.
The forward-looking statements in this news release include statements concerning the expected closing and timing of closing of the proposed transaction. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Teck to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that may cause actual results to vary include, but are not limited to, whether or not the closing conditions are met within a timely manner or at all.