Osisko Agrees to Drop Goldcorp Lawsuit

Osisko Mining Corp. (TSX:OSK) announced yesterday that it has agreed to settle a proceeding that it launched against Goldcorp Inc. (TSX:G,NYSE:GG) in the Quebec Superior Court.

As quoted in the press release:

Pursuant to the settlement, Goldcorp has agreed not to take up and pay for shares deposited to its hostile take-over bid prior to April 15, 2014.  In return, Osisko has agreed to waive the application of its shareholder rights plan on the earlier to occur of April 15, 2014, and the date Osisko enters into any third party transaction, to provide Goldcorp access to due diligence materials beginning on the earlier to occur of April 1, 2014 and the date that Osisko enters into any third party transaction, and to terminate its court proceeding against Goldcorp. The settlement also contemplates that no alternative transaction can be closed prior to April 15, 2014.

Click here to read the full Osisko Mining Corp. (TSX:OSK) press release.