Richfield Ventures Acquired by New Gold

On April 3, 2011, Richfield Ventures Corp. and New Gold Inc. entered into an arrangement agreement pursuant to which New Gold agreed to acquire, through a plan of arrangement, all of the outstanding common shares and options of Richfield. The arrangement closed on June 1, 2011, on which date each Richfield share was exchanged for 0.9217 of a New Gold share plus nominal cash consideration. The exchange ratio implied a value of $10.38 per Richfield share or approximately $550 million on a fully diluted basis, representing a 31% premium to Richfield’s April 1, 2011 closing price.

Richfield was represented in the transaction by McMillan LLP with a team consisting of Gary Floyd, Leo Raffin, Amandeep Sandhu and Lisa Fang (corporate and securities), Peter Botz (tax) and Herb Ono (US securities).