Coeur Mining completed its acquisition of New Gold via a stock-for-stock arrangement, issuing approximately 393 million shares of common stock at a 0.4959 exchange ratio and entered a new $1.0 billion senior secured revolving credit facility. The company also amended its certificate of incorporation to increase authorized common shares to 1.3 billion, appointed two new directors, issued updated reserves/resources for New Afton and Rainy River, and authorized a $750 million share repurchase program plus a $0.02 semi-annual dividend.
Key takeaways
Completed New Gold acquisition on March 20, 2026; New Gold shareholders received 0.4959 Coeur shares per New Gold share (393M total shares issued unregistered under Section 3(a)(10))
Entered $1.0B senior secured revolving credit facility on March 20, 2026 (5-year term, up to $250M incremental, replaces 2017 facility; secured by subsidiary shares until Collateral Release Event)
Amended certificate of incorporation on March 19, 2026 to increase authorized common shares from 900M to 1.3B (approved by shareholders Jan 27, 2026)
Appointed Patrick Godin and Marilyn Schonberner to Board effective Closing Date; Schonberner to Audit Committee
Authorized $750M share repurchase program (supersedes prior plan, through Mar 19, 2029) and $0.02/share semi-annual dividend starting Q2 2026
Issued technical reports: New Afton reserves 36.2MT (780koz AuEq); Rainy River reserves 54.5MT (2.23Moz AuEq); maiden K-Zone resource at New Afton (47.6MT M&I)