New Gold Inc Announces 86 Percent Acquisition of Rainy River

New Gold Inc.(TSX:NGD,NYSE:NGD) announced that it has acquired 86 percent of Rainy River.

As quoted in the press release:

New Gold has extended its Offer until 5:00 p.m. (Toronto time) on August 8, 2013, in order to allow Rainy River shareholders an additional opportunity to tender to the Offer. For U.S. securities law purposes, this extension constitutes a subsequent offering period. A notice of extension and subsequent offering period will be mailed to Rainy River shareholders in the coming days. If New Gold is successful in acquiring 90% of the Rainy River common shares, it intends to acquire all the remaining shares by way of a compulsory acquisition.

New Gold’s Executive Chairman, Randall Oliphant, said:

The acquisition of Rainy River further enhances our portfolio through the addition of another exciting gold growth project in Canada. We look forward to continuing our work with the Rainy River team to integrate the project into our pipeline.

To view the whole press release, click here.