New Gold commences take-over bid to acquire Rainy River Resources New Gold and Rainy River Resources jointly announce that New Gold has formally commenced its previously announced take-over bid to acquire all of the outstanding common shares of Rainy River at a price of $3.83 per share. The Offer is subject to customary conditions, including that a minimum of 66 2/3% of the outstanding Rainy River shares are tendered to the Offer. The Offer values the fully-diluted in-the-money share capital of Rainy River, net of Rainy River's current cash balance, at approximately $310M.
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