LAKE SHORE GOLD CORP 6.25 PCT DEBS T.LSG.DB

News highlight

[bert2]

 "The Bell Creek West acquisition provides us with a number of new, high-potential targets along the same geological trend as our Bell Creek Complex, all within close proximity to our Bell Creek shaft and the ramp we are driving from Bell Creek to Schumacher and Vogel. In addition, the land we have acquired around Bell Creek will also support our expansion plans for the Bell Creek Mill."

Consideration for the transaction totals $20 million, including $15 million of cash and 1,596,023 Lake Shore Gold common shares. The PJV has obtained a 2% net smelter royalty relating to any future production from the acquired properties. In addition to the 1,596,023 shares of the Company received by Goldcorp through the Bell Creek West transaction, Goldcorp has also exercised warrants with a strike price of $2.41 per share to acquire 2,000,000 common shares of the Company. The warrants had a two year term and were issued to Goldcorp on December 18, 2007 as partial consideration for the sale of the Bell Creek Mine and Mill to Lake Shore Gold. Proceeds to the Company from the exercise of the warrants were $4.8 million.

That 4.8 mil really softens the blow on the cash reserves for this deal

So Goldcorp added  3.5 miil shares  what percentage do they hold now?