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Stock Market & Financial Investment News

News Breaks
November 26, 2012
12:07 EDTNGDNew Gold upgraded to Outperform from Sector Perform at Scotia Capital
Scotia upgraded New Gold due to valuation. Price target is $14.
News For NGD From The Last 14 Days
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November 18, 2014
06:08 EDTNGDNew Gold initiated with a Neutral at Roth Capital
Target $3.75.
November 10, 2014
08:51 EDTNGDNew Gold to acquire Bayfield Ventures
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08:22 EDTNGDNew Gold to acquier Bayfield Ventures
New Gold announces that it has entered into a definitive agreement to acquire 100% of Bayfield Ventures pursuant to a plan of arrangement. Under the terms of the Arrangement, Bayfield shareholders will receive 0.0477 of a New Gold common share for each Bayfield common share held. The offer values Bayfield at $0.21 per common share or approximately $16.6 million, representing a 50% premium to Bayfield's November 7, 2014 closing price and a 47% premium based on each company's 20-day volume weighted average trading price. It is expected that upon completion of the Arrangement, approximately 3.8 million New Gold common shares will be issued in consideration for Bayfield's outstanding shares, which represents 0.8% of New Gold's currently outstanding common shares. Following completion of the Arrangement, in accordance with their terms, Bayfield's outstanding warrants will be adjusted based on the exchange ratio and become exercisable for New Gold common shares. The board of directors of Bayfield has unanimously approved the transaction. Bayfield's board of directors has also unanimously determined that the transaction is in the best interests of Bayfield shareholders and recommends that Bayfield shareholders vote in favour of the Arrangement. Pursuant to the Agreement, Bayfield has agreed, under certain circumstances, to pay New Gold a termination fee of $650,000. Bayfield has also provided New Gold with certain other customary rights, including a right to match competing offers. As part of the transaction, New Gold will loan Bayfield up to $300,000 to cover transaction-related expenses which will be repayable in cash or Bayfield shares in the event Bayfield shareholders do not approve the transaction.

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