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• PPP 0% Rate It

Primero Mining Corp. ( PPP ) is down 6.2% at $5.17, but trading at the high end of the stock's 52-week range, after it today announced that it has entered into an engagement letter together with its shareholder Goldcorp Inc. and a syndicate of underwriters, which have agreed to purchase 8,422,460 common shares of PPP currently held by Goldcorp on a bought deal basis at an offering price of C$5.25 per share.

Goldcorp currently owns 39,573,660 common shares of PPP, representing in the aggregate 40.9% of the issued and outstanding common shares of PPP. After giving effect to this offering, Goldcorp will own 31,151,200 common shares of PPP, representing approximately 32.2% of the outstanding common shares of PPP. PPP will not receive any proceeds from this offering. All of the expenses of the offering will be paid by Goldcorp.

PPP trades in a 52-week range of $2.22 - $5.82. Shares have increased 63% in the last 12 months.

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