The Globe and Mail reports in its Wednesday, June 10, edition that New Gold ($1.79) has announced plans to sell its Blackwater project in B.C. to Artemis Gold ($2.34) for $190-million, including $140-million in cash upfront and $50-million in 12 months after closing. The Globe's Brenda Bouw writes that the deal also includes a gold stream on 8 per cent gold produced from Blackwater, reducing to 4 per cent once approximately 280,000 ounces of gold have been delivered to New Gold. New Gold is also investing $20-million in Artemis, subject to conditions. New Gold chief executive officer Renaud Adams said in a statement: "This transaction marks another milestone for New Gold as we continue to reposition the company and advance our vision of becoming a leading Canadian-focused, diversified intermediate gold producer. We believe that surfacing value for Blackwater today, while retaining exposure to the project through a retained gold stream and an equity position in Artemis, allows the company to transition to the next phase of our growth plan as we continue to reposition the Company for shareholder value creation."