New Gold Announces Expiration and Results of its Tender Offer for its 7.50% Senior Notes due 2027

Core Points - New Gold Inc. announced the expiration of its tender offer for the 7.50% Senior Notes due 2027, which took place on March 13, 2025 [1][4] - The company received valid tenders amounting to $288,843,000, representing 72.21% of the outstanding$ 400 million of the Notes [3][2] - New Gold plans to use proceeds from a new issuance of $400 million in 6.875% Senior Notes due 2032 to fund the payment for the tendered Notes [5] Tender Offer Details - The tender offer commenced on March 4, 2025, and expired on March 13, 2025, at 5:00 p.m. New York City Time [1] - The settlement date for the accepted Notes is expected to be March 18, 2025 [4] - The tendered principal amount excludes$ 12,000 of the Notes tendered under guaranteed delivery procedures [3] Future Plans - New Gold intends to redeem any Notes not tendered in the offer around July 15, 2025, at a redemption price of 100% of the principal amount plus accrued interest [5] - The company has retained BofA Securities and BMO Capital Markets as Dealer Managers for the tender offer [7] Company Overview - New Gold is a Canadian-focused intermediate mining company with two core producing assets: the Rainy River gold mine and the New Afton copper-gold mine [9]