(Source: Canada Newswire)
VANCOUVER, Sept. 11 /CNW/ - New Gold Inc. ("New Gold") (TSX and NYSE AMEX: NGD) is pleased to announce the successful closing of its previously announced bought deal public offering of 26,700,000 common shares and the underwriters' exercise in full of an over- allotment option to purchase an additional 4,005,000 common shares granted by New Gold in connection with such offering at a price of C$3.75 per share for total gross proceeds to New Gold of approximately C$115 million.
Randall Oliphant, Executive Chairman of New Gold said "We are delighted by the markets' interest in the company with the successful closing of the financing and the over-allotment. This transaction brings new shareholders to New Gold, further strengthens our financial position and provides greater flexibility to realize value from current assets and through additional growth opportunities."
The syndicate of underwriters was led by BMO Capital Markets and GMP Securities L.P., and included Canaccord Capital Corporation, RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., National Bank Financial Inc., Paradigm Capital Inc. and Wellington West Capital Markets Inc.
About New Gold
New Gold is an intermediate gold mining company, headquartered in Vancouver, British Columbia, Canada with three operating assets; the Mesquite Mine in the United States, Cerro San Pedro Mine in Mexico and Peak Mines in Australia. For the period of New Gold ownership of the Mesquite mine, the Company is expected to produce between 270,000 and 300,000 ounces of gold in 2009, growing to over 400,000 ounces in 2012 and have significant reserves and resources with a strong portfolio of mining, development and exploration assets in mining friendly jurisdictions. For further information on New Gold, please visit www.newgold.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information contained in this press release, including any information relating to New Gold's future financial or operating performance may be deemed "forward looking". All statements in this press release, other than statements of historical fact, that address events or developments that New Gold expects to occur, are "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "does not expect", "plans", "anticipates", "does not anticipate", "believes", "intends", "estimates", "projects", "potential", "scheduled", "forecast", "budget" and similar expressions, or that events or conditions "will", "would", "may", "could", "should" or "might" occur.
