Ontario Teachers’ completes New Gold investment

New Gold completed its US$300 million investment partnership with Ontario Teachers’ Pension Plan.

New Gold completed its US$300 million investment partnership with Ontario Teachers’ Pension Plan. New Gold is a Toronto-based mining company.

PRESS RELEASE

TORONTO–(BUSINESS WIRE)– March 31, 2020 – New Gold Inc. (“New Gold” or the “Company”) (TSX and NYSE American: NGD) today reports that it has closed the previously announced strategic partnership with Ontario Teachers’ Pension Plan at the New Afton Mine for upfront cash proceeds of $300 million.
New Gold now has approximately $590 million in total available liquidity, including approximately $390 million in cash and cash equivalents.

About New Gold Inc.
New Gold is a Canadian-focused intermediate gold mining company. The Company has a portfolio of two core producing assets in top-rated jurisdictions, the Rainy River and New Afton Mines in Canada. The Company also operates the Cerro San Pedro Mine in Mexico (which transitioned to residual leaching in 2016). In addition, New Gold owns 100 percent of the Blackwater project located in Canada. New Gold’s objective is to be a leading intermediate gold producer, focused on the environment and social responsibility. For further information on the Company, please visit www.newgold.com.