Commodity Online
New Gold Inc. (TSE:NGD) has announced that it has concluded the business combination deal with Western Goldfields Inc.(TSX:WGI) via a plan of arrangement duly approved by both the shareholders of the companies concerned.

New Gold Inc. is an intermediate gold producer with a portfolio of global assets in Mexico, Canada, Australia, Brazil, Chile and the United States (Alaska).

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The completion of the deal brings the Mesquite Mine in addition to the asset portfolio of NGD whilst it continue to focus on the development of New Afton mine and pursuing strategic acquisition opportunities.

NGD acquired shares of WGI for CAD$0.0001/common share outstanding of the latter. It issued a total of 143 million common shares of NGD to the previous shareholders of WGI.

New Gold Inc. lost 2.43% at Toronto Stock Exchange on Monday and closed at 3.21. It touched a 52-week high of 9.11 and low of 0.94.