08.30.2019-NGD-Offering-Close-FINAL

TORONTO–(BUSINESS WIRE)– New Gold Inc. (“New Gold” or the “Company”) (TSX and NYSE American: NGD)is pleased to announce that it has closed its previously announced offering (the “Offering”) of common shares of the Company (“Common Shares”) with a syndicate of underwriters. An aggregate of 93,750,000 Common Shares were issued by the Company at a price of C$1.60 per share for aggregate proceeds of C$150 million. New Gold intends to use the proceeds to enhance financial flexibility, strengthen the balance sheet, including debt repayment, and general corporate purposes.