The terms of the deal are as follows:
- New Gold will be paid $140 million upon closing and $50 million in 12 months.
- It will also receive a stream on 8% of the gold produced at Blackwater, falling to 4% after New Gold receives the first 280,000 oz. of gold
- $20 million in Artemis shares for a 9.9% stake in the company.
The Blackwater project, about 160 km southwest of Prince George and 446 km northeast of Vancouver, currently has 8.2 million oz. of gold in proven and probable reserves and 60.8 million oz. of silver. The project's measured and indicated resource, exclusive of reserves, stands at 1.4 million oz. gold and 8.9 million oz. silver.
Read the rest of the release here on the Canadian Mining Journal:
http://www.canadianminingjournal.com/news/new-gold-sells-blackwater-to-artemis-for-190m-in-cash 
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