New Gold Announces Closing of $400 million Senior Notes Offering to Fund Redemption of Outstanding 6.25% Senior Notes
June 24 2020 - 12:27PM
Business Wire
(All dollar figures are in US dollars unless
otherwise indicated)
June 24, 2020 - New Gold Inc. ("New Gold" or the “Company”)
(TSX and NYSE American: NGD) today announces that it has
completed its offering of $400 million aggregate principal amount
of 7.50% Senior Notes due 2027 (the "Notes"). New Gold intends to
use the net proceeds from the offering of the Notes, together with
cash on hand, to fund the redemption of its outstanding 6.25%
Senior Notes due 2022 on or about July 10, 2020.
About New Gold Inc.
New Gold is a Canadian-focused intermediate gold mining company
with a portfolio of two core producing assets in Canada, the Rainy
River and New Afton Mines as well as the 100% owned Blackwater
development project. The Company also operates the Cerro San Pedro
Mine in Mexico (in reclamation). New Gold’s vision is to build a
leading diversified intermediate gold company based in Canada that
is committed to environment and social responsibility.
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” and
“forward-looking information” within the meaning of applicable
Canadian and U.S. securities legislation. All statements, other
than of historical fact, that address activities, events or
developments that New Gold believes, expects or anticipates will or
may occur in the future are forward-looking statements, including
the intended use of proceeds from this offering to redeem New
Gold’s 6.25% Senior Notes due 2022. Forward-looking statements are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results to be materially different from
those expressed or implied by such forward-looking statements.
Although New Gold has attempted to identify important factors that
could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. New Gold does not undertake to update any
forward-looking statements, except in accordance with applicable
securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20200624005676/en/
Anne Day Vice President, Investor Relations Direct: +1
(416) 324-6003 Email: anne.day@newgold.com
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