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ARTICLE · 28 MAY 2024

New Gold Inc. Completes C$235 Million Equity Offering Led By CIBC

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On May 17, 2024, New Gold Inc. completed its equity offering for gross proceeds of approximately C$235 million (US$173 million).

CanadaFinance and Banking
Timothy (Tim) McCormick
Timothy (Tim) McCormick
Frazer House
Frazer House
Jennifer Jiang
Jennifer Jiang
Emily Milana
Emily Milana
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On May 17, 2024, New Gold Inc. completed its equity offering for gross proceeds of approximately C$235 million (US$173 million). The dealer syndicate was led by CIBC Capital Markets and included BMO Capital Markets, RBC Capital Markets, Scotiabank, National Bank Financial Markets, TD Securities, BofA Securities, Canaccord Genuity, Laurentian Bank Securities and Raymond James.

New Gold Inc. 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%.

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