TORONTO – Intermediate mining company New Gold has raised about $234 million through sales of more than 61,640,000 shares, money the company will use to finance the Rainy River gold project.
In a release issued on Friday, New Gold officials say the bought deal involves a syndicate of underwriters, led by RBC Capital Markets and Scotiabank and a host of other financial institutions.
The agreed-upon share price was approximately $3.81.
The company says the offering was made by way of a short-form prospectus in Canada and was also registered in the United States.
New Gold operates four working mines in Canada, the United States, Australia and Mexico. It also has a pair of projects deep in development in Canada, the Rainy River and Blackwater projects.
