By Sheri Kasprzak
New York, Oct. 6 - New Gold Inc. said it has wrapped a C$3.01 million non-brokered private placement.
The company sold 430,000 flow-through shares at C$7.00 each to arm's-length investors.
Proceeds will be used for expansion needed to facilitate additional underground diamond drilling at the New Afton copper-gold project.
Based in Vancouver, B.C., New Gold is a gold and diamond exploration company.
| Issuer: | New Gold Inc.
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| Issue: | Flow-through shares
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| Amount: | C$3.01 million
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| Shares: | 430,000
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| Price: | C$7.00
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| Warrants: | No
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| Settlement date: | Oct. 6
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| Stock price: | C$5.97 at close Oct. 5
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