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Re: News Release - Monday, July 30, 2007
Exercise of Over-Allotment Option, Gross Proceeds of Offering
Increased to CDN$392 Million
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July 30, 2007 -- Vancouver, British Columbia - New Gold Inc.
(NGD:TSX/AMEX) is pleased to announce that the over-allotment option
granted to the agents in connection with New Gold's previously
announced (May 29 and 30, 2007, and June 14 and 28, 2007) public
offering (the "Offering") of Units, Debentures, Flow-Through Shares and
Shares, was exercised in respect of 17,000 Units, resulting in
additional gross proceeds of $17,000,000. Each Unit is comprised of
one $1,000 principal amount unsecured series D note and 100 common
share purchase warrants of New Gold, each exercisable to acquire one
common share of New Gold for a period of 10 years at an exercise price
of $15.00 per share. The exercise of the over allotment option brings
the aggregate gross proceeds to New Gold under the Offering to $
392,286,250.
The Offering was conducted through a syndicate of agents led by GMP
Securities L.P. and including BMO Nesbitt Burns Inc., Orion Securities
Inc., Jennings Capital Inc. and Wellington West Capital Markets Inc.
The securities referenced herein have not been and will not be
registered under the U.S. Securities Act of 1933, as amended, and may
not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements. This press
release shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the securities in any State
in which such offer, solicitation or sale would be unlawful.
For more information, contact:
Chris Bradbrook
President and Chief Executive Officer
New Gold Inc.
601 - 595 Howe Street, Vancouver, B.C. V6C 2T5
Tel: 877-977-1067 or 604-687-1629, Fax: 604-687-2845
Email: invest@newgoldinc.com
Website: www.newgoldinc.com
Certain of the statements made and information contained herein is
"forward- looking information" within the meaning of the Securities Act
(Ontario) and Securities Act (Alberta) or "forward-looking statements"
within the meaning of Section 21E of the Securities Exchange Act of
1934 of the United States. Forward-looking statements are subject to a
variety of risks and uncertainties which could cause actual events or
results to differ from those reflected in the forward-looking
statements, including, without limitation, risks and uncertainties
relating to the interpretation of drill results and the estimation of
mineral resources and reserves, the geology, grade and continuity of
mineral deposits, the possibility that future exploration, development
or mining results will not be consistent with the Company's
expectations, metal recoveries, accidents, equipment breakdowns, title
matters and surface access, labour disputes or other unanticipated
difficulties with or interruptions in production, the potential for
delays in exploration or development activities or the completion of
feasibility studies, the inherent uncertainty of production and cost
estimates and the potential for unexpected costs and expenses,
commodity price fluctuations, currency fluctuations, failure to obtain
adequate financing on a timely basis and other risks and uncertainties,
including those described under Risk Factors Relating to the Company's
Business in the Company's Annual Information Form and in each
management discussion and analysis. Forward-looking information is in
addition based on various assumptions including, without limitation,
the expectations and beliefs of management, the assumed long term price
of copper and gold, that the Company will receive required permits and
access to surface rights, that the Company can access the total
required financing, appropriate equipment and sufficient labour and
that the political environment within British Columbia and Canada will
continue to support the development of environmentally safe mining
projects so that the Company will be able to complete the development
of the New Afton project. Should one or more of these risks and
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described in
forward-looking statements. Accordingly, readers are advised not to
place undue reliance on forward-looking statements.
Cautionary note to U.S. investors concerning estimates of Measured,
Indicated and Inferred Resources, and the use of the terms "measured"
"indicated resources," and "inferred". We advise U.S. investors that,
while those terms are recognized and required by Canadian regulations,
the U.S. Securities and Exchange Commission ("SEC") permits mining
companies, in their filings with the SEC, to disclose only those
mineral deposits that a company can economically and legally extract or
produce and does not recognize them. "Inferred" resources have a great
amount of uncertainty as to their existence and great uncertainty as to
their economic and legal feasibility. It cannot be assumed that all or
any part of an "Inferred" resource will ever be upgraded to a higher
category. Under Canadian rules, estimates of "Inferred" resources may
not form the basis of feasibility or pre-feasibility studies, except in
rare cases. U.S. investors are cautioned not to assume that any part
or all of mineral deposits in these categories will ever be converted
into reserves or be economically or legally mineable.
WARNING: The Company relies upon litigation protection for
"forward-looking" statements.
Associated File:
http://www.newgoldinc.com/i/pdf/07-30-07_Over Allotment.pdf
26 KB in size, approx. 6 seconds to download at 56.6Kbps
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Copyright (c) 2007 NEW GOLD INC. (TSX/AMEX:NGD) All rights reserved.
For more information visit our website at http://www.newgoldinc.com/ or
send mailto:invest@newgoldinc.com
Message sent on Mon Jul 30, 2007 at 9:03:43 AM Pacific Time
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