Prnewswire·2025-12-22 11:33Core Viewpoint - New Gold Inc. has announced a transaction where Coeur Mining, Inc. will acquire all outstanding shares of New Gold, with shareholders receiving 0.4959 shares of Coeur for each New Gold share held, resulting in New Gold shareholders owning approximately 38% of the combined company post-transaction [1][16]. Strategic Rationale - The transaction aims to create a leading North American precious metals mining company with a pro forma combined equity market capitalization of approximately $20 billion, including seven high-quality operations expected to produce around 1.25 million gold equivalent ounces in 2026 [5]. - The combined company is projected to generate approximately $3.0 billion in EBITDA and about $2.0 billion in free cash flow in 2026, enhancing financial strength and shareholder returns [5]. - The merger will provide greater exposure to long-life, low-risk North American assets, improving the reserve and resource profile, and supporting sustainable free cash flow [5]. - The combined entity is expected to rank among the top 10 largest precious metals companies and top five global silver producers, enhancing trading liquidity and capital market exposure [5]. Board Recommendation - The Board of Directors of New Gold unanimously recommends that shareholders vote "FOR" the transaction, emphasizing the potential for value creation and exploration upside from existing operations [2][6]. Meeting and Voting Details - A special meeting for New Gold shareholders is scheduled for January 27, 2026, to approve the transaction, with voting materials already mailed to eligible shareholders [7][18]. - Shareholders must vote by 11:00 a.m. (Eastern Time) on January 23, 2026, to participate in the meeting [8]. Regulatory Approvals - The transaction is subject to various approvals, including those from New Gold and Coeur shareholders, the Supreme Court of British Columbia, and applicable regulatory bodies [19][21].