New Gold sets shareholder vote for Coeur Mining acquisition

New Gold Inc. (NYSE American: NGD) has filed proxy materials for a special shareholder meeting scheduled for January 27, 2026, to vote on the proposed acquisition by Coeur Mining Inc. (NYSE: CDE).

Under the arrangement agreement signed November 2, 2025, New Gold shareholders will receive 0.4959 shares of Coeur common stock for each New Gold share held. Upon completion, New Gold shareholders will own approximately 38% of the combined company, which would have an implied market capitalization of approximately $2.0 billion.

The New Gold board of directors unanimously recommends shareholders vote in favor of the transaction. The meeting will be held at 11:00 a.m. Eastern Time at Davies Ward Phillips & Vineberg LLP offices in Toronto and via webcast.

New Gold announced it received an interim order from the Supreme Court of British Columbia authorizing the shareholder meeting and proxy material distribution. The company also obtained approval from Canada's Commissioner of Competition on December 5, 2025, satisfying Competition Act requirements.

The transaction requires approval from at least two-thirds of votes cast by New Gold shareholders and a simple majority excluding certain related parties. Coeur shareholders must separately approve the stock issuance and a charter amendment to increase authorized shares.

The combined company would operate seven North American precious metals operations with estimated 2026 production of approximately 1.25 million gold equivalent ounces, including 900,000 ounces of gold, 20 million ounces of silver, and 100 million pounds of copper.

Additional regulatory approvals and stock exchange listings remain required before the transaction can close, which is expected in the first half of 2026.

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