New Gold Closes Acquisition of Silver Quest Resources – Consolidates Ownership of Blackwater Project
New Gold Inc. and Silver Quest Resources Ltd. today announce that New Gold has completed the acquisition of all the shares of Silver Quest. Under the terms of the court approved arrangement, 10.5 million New Gold common shares were issued to former Silver Quest securityholders on the basis of 0.09 of a New Gold share for each Silver Quest share and nominal cash consideration.