New Gold Completes Redemption Of Its Remaining Outstanding 6.375% Senior Notes
May 16 2022 - 4:30PM
PR Newswire (US)
TORONTO, May 16, 2022
/PRNewswire/ - New Gold Inc. ("New Gold" or the "Company")
(TSX: NGD) (NYSE American: NGD) announces completion of the
previously announced redemption of its outstanding $100 million aggregate principal amount of its
6.375% Senior Notes due 2025 (the "2025 Notes"). The redemption of
the 2025 Notes was funded with cash on hand. Following the
completion of the redemption, the Company has approximately
$326 million of cash1 and
a strong liquidity position of approximately $702 million2.
Endnotes
- Based on cash and equivalents as at March 31, 2022 of $432
million less redemption principal, redemption premium, and
accrued interest.
- Approximately $24 million of the
Company's $400 million credit
facility is currently used for Letters of Credit related to mine
closure costs.
About New Gold
New Gold is a Canadian-focused
intermediate mining company with a portfolio of two core producing
assets in Canada, the Rainy River
gold mine and the New Afton copper-gold mine. The Company also
holds a 5% equity stake in Artemis Gold Inc., and other
Canadian-focused investments. New Gold's vision is to build a
leading diversified intermediate gold company based in Canada that is committed to the environment
and social responsibility. For further information on the Company,
visit www.newgold.com.
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SOURCE New Gold Inc.
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