TORONTO, Oct. 1, 2013 /CNW/ - Rainy River Resources Ltd. ("Rainy River")
(TSX:RR) today announces the appointment of six new officers: Robert
Gallagher, President and Chief Executive Officer; Brian Penny, Chief
Financial Officer; Lisa Damiani, Vice President and Secretary; Hannes
Portmann, Vice President; Barry O'Shea, Vice President; and Martin
Wallace, Treasurer. The newly appointed officers will replace the
majority of Rainy River's previous group of senior officers.
New Gold Inc. ("New Gold") owns approximately 100.9 million, or 97.5%,
of Rainy River's outstanding shares, with the balance in the process of
being acquired by way of compulsory acquisition under the Business Corporations Act (British Columbia). All of the new officers of Rainy River are officers
of New Gold.
The compulsory acquisition of the balance of the Rainy River shares
remains on schedule for completion by mid-October, at which point New
Gold would consolidate its ownership in 100% of Rainy River.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information contained in this news release, including any
information relating to New Gold's future financial or operating
performance may be deemed "forward looking". All statements in this
news release, other than statements of historical fact, that address
events or developments that New Gold expects to occur, are
"forward-looking statements". Forward-looking statements are statements
that are not historical facts and are generally, but not always,
identified by the use of forward-looking terminology such as "plans",
"expects", "is expected", "scheduled", "estimates", "intends",
"anticipates", "believes" or variations of such words and phrases or
statements that certain actions, events or results "may", "could",
"would", "should", "might" or "will be taken", "occur" or "be achieved"
or the negative connotation. Forward looking statements in this news
release include statements regarding the compulsory acquisition of
Rainy River. All forward-looking statements in this news release are
based on the opinions and estimates of management as of the date such
statements are made and are subject to important risk factors and
uncertainties, many of which are beyond New Gold's ability to control
or predict. Forward-looking statements are necessarily based on
estimates and assumptions that are inherently subject to known and
unknown risks, uncertainties and other factors that may cause actual
results, level of activity, performance or achievements to be
materially different from those expressed or implied by such
forward-looking statements. Such factors include, without limitation:
applications made by any remaining shareholders in connection with the
compulsory acquisition and additional funding requirements, as well as
"Risk Factors" included in New Gold's disclosure documents filed on and
available at www.sedar.com.
Forward-looking statements are not guarantees of future performance, and
actual results and future events could materially differ from those
anticipated in such statements. All of the forward-looking statements
contained in this news release are qualified by these cautionary
statements. New Gold expressly disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result of
new information, events or otherwise, except in accordance with
applicable securities laws.
SOURCE: Rainy River Resources
For further information:
RAINY RIVER RESOURCES LTD.
For further information, please contact:
Vice President, Corporate Development
Direct: 1 (416) 324-6014