The Prospector News

NEW GOLD COMPLETES US$173 MILLION BOUGHT DEAL FINANCING

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

NEW GOLD COMPLETES US$173 MILLION BOUGHT DEAL FINANCING

 

 

 

 

 

New Gold Inc. (TSX: NGD) (NYSE American: NGD) is pleased to announce the closing of its “bought deal” equity financing of 100,395,000 common shares, including 13,095,000 common shares issued upon the full exercise of the underwriters’ over-allotment option. At a price of $1.72 per common share, the Company raised aggregate gross proceeds of $172,679,400 pursuant to the offering. The offering, announced on May 13, 2024, was conducted by a syndicate of underwriters led by CIBC Capital Markets and that included BMO Capital Markets, RBC Capital Markets, Scotiabank, National Bank Financial Markets, TD Securities, BofA Securities, Canaccord Genuity, Laurentian Bank Securities and Raymond James.

 

The Company intends to use the net proceeds of the offering to fund a portion of the cash payment to complete the previously announced agreement relating to its strategic partnership with Ontario Teachers’ Pension Plan Board at the New Afton mine, whereby New Gold will increase its effective free cash flow interest in New Afton to 80.1%.

 

About New Gold

 

New Gold is a Canadian-focused intermediate mining company with a portfolio of two core producing assets in Canada, the Rainy River gold mine and the New Afton copper-gold mine. The Company also holds other Canadian-focused investments. New Gold’s vision is to build a leading diversified intermediate gold company based in Canada that is committed to the environment and social responsibility.

 

Posted May 17, 2024

Share this news article

MORE or "UNCATEGORIZED"


Updated Kiniero Feasibility Study Achieves Increase +46% in Gold Reserves and +89% NPV to US$322M

HIGHLIGHTS: Increased Reserves Life Of Mine: Mineral Reserves inc... READ MORE

January 14, 2025

Asante Announces Bibiani Underground Feasibility Study Results

Asante Gold Corporation (CSE:ASE) (GSE:ASG) (FRANKFURT:1A9) (U.S.... READ MORE

January 14, 2025

Vital Battery Metals Drills 20.5m of 1.21% Cu Including 5.0m of 2.22% Cu at Sting Copper Project

Highlights Strong copper grades from maiden fall 2024 drill progr... READ MORE

January 14, 2025

Lithium Ionic Reports 32% Growth in Updated Mineral Resource Estimate at Baixa Grande - Salinas, Minas Gerais, Brazil

Lithium Ionic Corp. (TSX-V: LTH) (OTCQB: LTHCF) (FSE: H3N) is ple... READ MORE

January 14, 2025

TRX Gold Reports More High-Grade Intercepts at Stamford Bridge

Zone extended another 25 meters   TRX Gold Corporation (TSX: TRX... READ MORE

January 14, 2025

Copyright 2025 The Prospector News