New Gold Takeover Complete

A friendly takeover of Rainy River Resources is now complete. New Gold says it now controls all of the company's shares, completing a deal announced in June. Executive chair Randall Oliphant says he's pleased the acquisition is now complete and they can focus attention on advancing Rainy River's gold project north of Barwick. New Gold is in the process of completing a detailed review and update of the feasibility study as well as advancing the permitting efforts for the project.