New Gold Completes $173 Million Public Offering and Increases Exposure in New Afton Mine

Paul, Weiss advised New Gold Inc. in its $173 million public offering of common shares to help fund an agreement to increase its effective free cash flow interest in the New Afton mine to 80.1%. New Gold is a Canadian-focused intermediate mining company with two core producing assets in Canada.

CIBC Capital Markets acted as sole bookrunner for the offering.

The Paul, Weiss team included corporate partner Christopher Cummings, tax partner Matthew Jordan and environmental counsel William O’Brien.