Exhibit 99.1 Coeur Mining, Inc. Announces Expiration and Final Results of Previously Announced Exchange Offer and Consent Solicitation for New Gold Senior Notes
Exhibit 99.1
Coeur Mining, Inc. Announces Expiration and Final Results of Previously Announced Exchange Offer and
Consent Solicitation for New Gold Senior Notes
April 21, 2026
CHICAGO--(
BUSINESS WIRE)--
Coeur
Mining, Inc. (
NYSE: CDE) (“
Coeur” or the “
Company”) today announced the final results of its previously announced private
exchange offer to
certain
Eligible Holders (the “
Exchange Offer”) for any and all of the US
$400,000,000
aggregate principal amount outstanding
of the 6.875%
Senior
Notes due
2032 (CUSIP: 644535 AJ5 / C62944 AE0; ISIN: US644535AJ57 / USC62944AE04) (the “
Existing Notes”) issued by
New Gold Inc. (“
New
Gold”), in exchange
for
Coeur’s
6.875%
Senior Notes due
2032 (the “
New Notes”) and cash, pursuant to the terms and subject to the conditions set forth in
the
exchange offer
memorandum and
consent
solicitation statement dated
March 23, 2026 (as the same may be amended or supplemented from time to time, the “
Exchange Offer
Memorandum”).
As of 5:00 p.m.,
New York City time, on
April 20, 2026 (the “
Expiration Date”), according to information provided by
Global Bondholder Services Corporation, the
information agent and exchange agent for the
Exchange Offer, US
$500,000
aggregate principal amount of
Existing Notes had been validly tendered and not validly
withdrawn after 5:00
p.m., New York City time, on April 3, 2026 (the “Early Participation Date”), but prior to the
Expiration Date. Subject to the terms and conditions of
the
Exchange
Offer,
Coeur is accepting for purchase all US
$500,000 aggregate principal amount of
Existing
Notes validly tendered after the Early Participation Date
and at or prior to the
Expiration Date, in addition to the US
$385,300,000
aggregate principal amount of
Existing
Notes validly tendered at or prior to the Early
Participation Date, for a total of US
$385,800,000 aggregate principal amount of
Existing Notes (representing approximately
96.45% of the outstanding
Existing Notes)
validly tendered and not validly withdrawn, and accepted for exchange, in exchange for
$385,774,000 in
aggregate
principal amount of
New Notes and approximately
$771,600 in cash (including
$770,600 in cash consideration and
$1,000 in cash in lieu of fractional notes). The settlement date with respect to all
Existing Notes validly
tendered and
not validly withdrawn and accepted for purchase is
April 22, 2026.
RBC Capital Markets, LLC acted as the
Dealer Manager
for the
Exchange Offer.
The information agent and exchange agent
was Global Bondholder
Services
Corporation.
The
New Notes offered in the
Exchange Offer have not been registered under the
Securities Act
of 1933, as amended (the “
Securities Act”), or any state securities
laws. Therefore, the
New Notes may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements of
the
Securities Act, and any applicable state securities laws.
About Coeur
Coeur Mining, Inc. (
NYSE: CDE) is a
U.S.-based,
well-diversified, growing precious metals producer with
seven wholly-owned operations: the
New
Afton gold-
copper mine in
British Columbia,
Canada, the
Rainy River gold-silver mine in
Ontario,
Canada, the
Las Chispas silver-gold mine in
Sonora,
Mexico, the
Palmarejo gold-
silver mine in
Chihuahua,
Mexico, the
Rochester silver-gold mine in
Nevada, the
Kensington gold mine in
Alaska and the
Wharf gold mine in
South Dakota. In
addition, the
Company wholly-owns the
Silvertip polymetallic critical minerals exploration project in
British Columbia,
Canada.
Forward-
Looking Statements and Cautionary Statements
Certain statements in this press release, including, but not limited to, any statements regarding
Coeur’s
or
New Gold’s future expectations, beliefs, plans, objectives,
financial conditions, assumptions or future events or performance that are not historical facts are “forward-looking” statements based on
assumptions currently
believed to be valid. Forward-looking statements are all statements other than statements of historical facts. The words “anticipate,” “believe,” “ensure,” “expect,”
“if,” “intend,” “estimate,” “probable,” “project,”
“forecasts,” “predict,” “outlook,” “aim,” “will,” “could,” “should,” “would,” “potential,” “may,” “might,”
“anticipate,” “likely,” “plan,” “positioned,” “strategy,” and similar expressions or other words of similar meaning, and the negatives
thereof, are intended to identify
forward-looking statements. Specific forward-looking statements include, but are not limited to, statements regarding
Coeur’s or
New
Gold’s plans and expectations
with respect to the anticipated impact of the
transaction on the combined company’s results of operations, financial position, growth opportunities and competitive
position,
including strategies and plans and integration. The forward-
looking statements are intended to be subject to the safe harbor provided by
Section
27A of
the
Securities Act, Section 21E of the Securities Exchange Act of 1934 and the
Private Securities Litigation Reform Act of 1995 or
“forward-looking information”
within the meaning of applicable
Canadian securities laws.
These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those
anticipated, including, but
not limited to, potential adverse reactions or changes to business or employee relationships of
Coeur
or
New Gold, including those resulting from the completion of
the
Exchange Offer; the diversion of management time on
transaction-related
issues; the ultimate timing, outcome and results of integrating the operations of
Coeur
and
New Gold; the effects of the business combination of
Coeur and
New Gold, including the combined company’s future financial condition, results of operations,
strategy and plans; the ability of the combined company
to realize anticipated synergies in the timeframe expected or at all; changes in capital markets and the ability
of the combined company to finance operations in the manner expected; the risk of any litigation relating to the
transaction; the risk of changes in governmental
regulations or enforcement practices; the effects of commodity prices, life of mine estimates; the timing and amount of estimated future production; the
risks of
mining activities; and the fact that operating costs and business disruption may be greater than expected. Expectations regarding business outlook, including
changes in revenue, pricing, capital expenditures, cash flow generation,
strategies for the combined company’s operations, gold, silver and copper market conditions,
legal, economic and regulatory conditions, and environmental matters are only forecasts regarding these matters.
Additional factors that could cause results to differ materially from those described above can be found in the
Exchange Offer Memorandum under “
Risk Factors,” in
Coeur’s Annual Report on Form 10-K for the year ended
December 31, 2025, which is on file with the
U.S. Securities and Exchange Commission (the “
SEC”) and is
available from
Coeur’s website at
www.coeur.com under the “
Investors” tab, and in other documents
Coeur’s files with the
SEC and
in
New Gold’s annual
information form for the year ended
December 31, 2024, which is
on file with the
SEC and on the
Canadian System for Electronic Document Analysis and Retrieval
(“
SEDAR+”) and available
from
New Gold’s website at
www.newgold.com under the “
Investors” tab, and in other documents
New Gold files with the
SEC or on
SEDAR+.
All forward-looking statements speak only as of the date they are made and are based on information available at that time. Neither
Coeur’s nor
New Gold assumes
any obligation to update forward-looking statements to reflect
circumstances or events that occur after the date the forward-looking statements were made or to
reflect the occurrence of unanticipated events except as required by applicable securities laws. As forward-looking statements involve significant
risks and
uncertainties, caution should be exercised against placing undue reliance on such statements.
NO OFFER OR SOLICITATION
This communication is not intended to and does not constitute an offer to purchase, or the solicitation of an offer to sell, or the solicitation of
tenders or consents
with respect to any security. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful
prior to registration or qualification under the securities
laws of any such jurisdiction. The
Exchange Offer and
Consent Solicitation are being made solely
pursuant
to the
Exchange Offer Memorandum and only to such persons and in such jurisdictions as is permitted under applicable law.
For Additional Information
Coeur Mining, Inc.
200 S. Wacker Drive, Suite 2100
Chicago, Illinois 60606
Attention: Jeff Wilhoit, Senior Director, Investor Relations
Phone: (312) 489-5800
Source: Coeur Mining