#Canada #Toronto #precious metals #Coeur Mining #New Gold

New Gold's Shareholder Meeting Announcement

New Gold Inc., the well-known Canadian mining company, has made a significant announcement regarding its upcoming special meeting for shareholders, scheduled for January 27, 2026. This meeting is critical as it seeks the necessary approval for a transformative transaction with Coeur Mining, Inc. Under this plan, a wholly-owned subsidiary of Coeur will acquire all outstanding common shares of New Gold, marking a pivotal moment in the company’s history.

Management Information Circular Filed

On December 22, 2025, New Gold disclosed that it has filed and started mailing the management information circular and accompanying proxy materials to its shareholders. The circular, which explains the details and implications of the acquisition, can be accessed online. According to the terms of this transaction, New Gold shareholders will receive 0.4959 shares of Coeur common stock for every share they hold of New Gold.

As a result, upon completion of this deal, New Gold's current shareholders are expected to own around 38% of the newly combined entity, creating a major North American leader in the precious metals mining industry.

Strategic Importance of the Transaction

Richard O'Brien, Chair of New Gold's Board of Directors, underscored the strategic rationale behind the acquisition. He stated, "This acquisition will create a unique, one-of-a-kind North American precious metals mining company." O'Brien emphasized that this transaction aims to bolster the value created for shareholders over recent years and tap into further exploration potential from New Gold's mines, including New Afton and Rainy River.

In terms of operational impact, the newly formed company is estimated to produce approximately 1.25 million gold equivalent ounces in 2026, leveraging New Gold’s existing assets and enhancing operational efficiencies.

Financial and Operational Enhancements

The strategic collaboration is projected to bring a robust financial profile to the combined company, with an expected EBITDA of around $3 billion and free cash flow approximating $2 billion in 2026. Such financial strength will enable the new entity to pursue further growth and secure an investment-grade credit rating.

The merger will also significantly diversify the asset portfolio of both companies, adding five additional high-quality precious metals operations, thus enhancing the resilience of the combined entity against market fluctuations and reducing reliance on any single asset.

Meeting Details and Voting Process

The special meeting will occur in Toronto, at the offices of Davies Ward Phillips & Vineberg LLP, and participants can also join virtually. Shareholders must vote by 11:00 a.m. ET on January 23, 2026, to be eligible to participate in the meeting.

In line with regulatory requirements, the deal receives a favorable nod from the Commissioner of Competition under the Competition Act, Canada, reinforcing its viability from a legal standpoint. Moreover, the Board of Directors has unanimously recommended shareholders vote in favor of the transaction.

In conclusion, the upcoming special meeting is a decisive moment for New Gold Inc. as it embarks on a transformative journey alongside Coeur Mining, which will reshape the landscape of North American precious metals production. The integration promises to bring enhanced operational efficiencies, significant financial returns, and expanded resources for all shareholders involved. For more details, shareholders are advised to review the management circular and the accompanying proxy materials.

Further Information

For any inquiries regarding voting procedures or additional information, shareholders can reach out to New Gold’s strategic shareholder advisor, Kingsdale Advisors. Voting options are available online, by phone, or via mail, ensuring that all shareholders have a chance to make their voices heard at this pivotal meeting.