TORONTO (miningweekly.com) – Vancouver-based mid-tier miner New Gold will sell 26,7-million shares in a bought-deal financing to raise C$100,1-million, to be used for general corporate purposes, the firm said on Friday.

The shares have been priced at C$3,75 apiece, which is a discount to the closing price in Toronto on Thursday, of C$4,00 a share.

The company has also given its underwriting syndicate, led by BMO Capital Markets and GMP Securities, an overallotment option to buy another 15% of the offering.

The offering is expected to close on or about September 11.

New Gold, which was formed last year from the three-way merger of juniors Metallica Resources, New Gold and Peak Gold, has operating assets in the US, Mexico and Australia and two development projects in Canada and Chile.

Earlier this year, it bought Western Goldfields, which owns the Mesquite mine, in California.

Shares in the company fell 5,5% on Friday morning, to C$3,78 apiece by 9:55 in Toronto.

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