TORONTO – With 86.2% of the outstanding Rainy River Resources shares pledged to its offer, New Gold extending its offer for all Rainy River shares to 5 pm, Aug. 8, 2013.
“We are very pleased that the Rainy River shareholders have overwhelmingly supported our offer and we welcome them as New Gold shareholders,” stated Randall Oliphant, executive chairman of New Gold. “The acquisition of Rainy River further enhances our portfolio through the addition of another exciting gold growth project in Canada. We look forward to continuing our work with the Rainy River team to integrate the project into our pipeline.”
The Rainy River gold project 60 km northwest of Fort Frances, ON, is at an advanced exploration stage. The deposit contains proven and probable reserves for an open pit of 113.2 million tonnes averaging 0.97 g/t Au. The underground proven and probable reserves are 3.1 million tonnes grading 5.07 g/t Au. Combined, the reserves contain more than 4 million oz of gold (and 10 million oz of silver).
Rainy River shareholders were offered a cash option ($2.47 in cash plus 0.178 share of New Gold) or a share option (0.5 share of New Gold) per each tendered share of Rainy River.
Questions and requests for assistance, including assistance with respect to tendering your Rainy River shares to the offer, or requests for additional copies of the offer documents, may be directed to the depositary at 800-564-6253 (email@example.com) or the information agent at 888-518-6796 (firstname.lastname@example.org).