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New Gold Closes Equity Offering
- Client News
- March 10, 2017
Paul, Weiss advised New Gold Inc., a Canadian intermediate gold mining company, in its public offering of common shares. New Gold issued 61,640,000 common shares in Canada and the U.S. for aggregate gross proceeds of approximately $173 million. The syndicate of underwriters was led by RBC Capital Markets and Scotiabank. New Gold intends to use the net proceeds to fund the completion of its Rainy River gold project in Ontario.
The Paul Weiss team included corporate partner Christopher Cummings; tax partner David Mayo; litigation counsel Peter Jaffe; and environmental counsel William O’Brien.