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New Gold Inc. ("New Gold")
NGD and Rainy River Resources Ltd. ("Rainy River")
RR
today jointly announce that, as of 5:00 p.m. (Toronto time) on July 24,
2013, 89.2 million common shares of Rainy River had been validly
deposited to New Gold's offer to acquire all of the outstanding shares
of Rainy River (the "Offer"). New Gold has taken up and accepted for
payment all of such shares, representing 86.2% of the outstanding
shares. New Gold will pay for the shares on or before July 29, 2013.
Rainy River shareholders who elected the cash option will receive $2.47
in cash and 0.178 New Gold shares for each share tendered and those who
elected the share option will receive 0.5 New Gold shares, subject in
each case to adjustment for fractional shares and to confirmation of
the number of Rainy River shares validly tendered pursuant to Notices
of Guaranteed Delivery.
See full press release© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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