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Deal snapshot: AURELIA METALS ACQUIRES PEAK MINES FROM NEW GOLD FOR USD 58M.

MANews-(C)2009-2017

Australia-based Aurelia Metals Ltd. has agreed to acquire Cobar, New South Wales, Australia-based Peak Mines from Canada-based New Gold Inc. (TSX: NGD) (NYSE American: NGD) Australia for USD 58m in cash, the company said.

Aurelia said it intends to fund the transaction through a combination of an AUD 45m debt facility provided by the Investec Group and an equity placement in the order of AUD 70m. Aurelia's largest shareholder, Pacific Road Capital Management Pty Ltd, has committed to Aurelia to subscribe for up to AUD 35m in the equity raising and increase their interest in Aurelia to 36.7% from 33.6%, subject to shareholder approval. Aurelia will pay at least a USD 3.0m deposit, which will be retained by New Gold if the transaction is not completed.

Country: Australia

Sector: Metals/Mining

Target: New Gold Inc

Buyer: Aurelia Metals

Vendor:

Deal size in USD: 58m

Type: Corporate Acquisition

Financing: Cash

Status: Agreed

Buyer advisor: , ,

Comment:

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Publication:M & A Navigator
Geographic Code:8AUST
Date:Nov 22, 2017
Words:160
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