New Gold Inc. (TSX:NGD) entered into an agreement to acquire the remaining 19.90% stake in New Afton Mine from Ontario Teachers' Pension Plan Board for $300 million on April 7, 2025. New Gold will pay a cash consideration of $300 million, funded through a combination of cash on hand, borrowings from its existing revolving credit facility, and a $100 million gold prepayment financing. Under the gold prepayment arrangement, New Gold will receive $100 million upfront in exchange for delivering a fixed amount of gold over a 12-month period?representing approximately 8% of its projected consolidated gold production during that time. Upon closing of the transaction, all existing agreements related to Ontario Teachers? free cash flow interest in the New Afton mine will be terminated. This includes Ontario Teachers? previously disclosed right to a one-time $20 million cash payment in the event of a change of control at New Gold announced before January 31, 2026. Closing of the Transaction is subject to customary conditions and is expected to close at the beginning of May.

New Gold Inc. (TSX:NGD) completed the acquisition of the remaining 19.90% stake in New Afton Mine from Ontario Teachers' Pension Plan Board on May 1, 2025.