UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ---------------------- SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1)* New Gold, Inc. (Name of Issuer) Common Shares without par value (Title of Class of Securities) 644535106 (CUSIP Number) December 31, 2008 (Date of event which requires filing of this statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ ] Rule 13d-1(b) [X] Rule 13d-1(c) [ ] Rule 13d-1(d) ---------------- *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Page 1 of 12 Pages CUSIP No. 644535106 13G Page 2 of 12 Pages ----------------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS Highbridge International LLC ----------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) [X] (b) [ ] ----------------------------------------------------------------------- (3) SEC USE ONLY ----------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands, British West Indies ----------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES -------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 0 OWNED BY -------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING -------------------------------------------------------- PERSON WITH (8) SHARED DISPOSITIVE POWER 0 ----------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 ----------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) [ ] ----------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0% ----------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON (see instructions) OO ----------------------------------------------------------------------- CUSIP No. 644535106 13G Page 3 of 12 Pages ----------------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS Highbridge Convertible Arbitrage Master Fund, L.P. ----------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) [X] (b) [ ] ----------------------------------------------------------------------- (3) SEC USE ONLY ----------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands, British West Indies ----------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES -------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 0 OWNED BY -------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING -------------------------------------------------------- PERSON WITH (8) SHARED DISPOSITIVE POWER 0 ----------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 ----------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) [ ] ----------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0% ----------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON (see instructions) PN ----------------------------------------------------------------------- CUSIP No. 644535106 13G Page 4 of 12 Pages ----------------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS Highbridge Statistical Opportunities Master Fund, L.P. ----------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) [X] (b) [ ] ----------------------------------------------------------------------- (3) SEC USE ONLY ----------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands, British West Indies ----------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES -------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 300 Common Shares OWNED BY -------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING -------------------------------------------------------- PERSON WITH (8) SHARED DISPOSITIVE POWER 300 Common Shares ----------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 300 Common Shares ----------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) [ ] ----------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.00% ----------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON (see instructions) PN ----------------------------------------------------------------------- CUSIP No. 644535106 13G Page 5 of 12 Pages ----------------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS Highbridge Capital Management, LLC ----------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) [X] (b) [ ] ----------------------------------------------------------------------- (3) SEC USE ONLY ----------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION State of Delaware ----------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES -------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 300 Common Shares OWNED BY -------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING -------------------------------------------------------- PERSON WITH (8) SHARED DISPOSITIVE POWER 300 Common Shares ----------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 300 Common Shares ----------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) [ ] ----------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.00% ----------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON (see instructions) OO ----------------------------------------------------------------------- CUSIP No. 644535106 13G Page 6 of 12 Pages ----------------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS Glenn Dubin ----------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) [X] (b) [ ] ----------------------------------------------------------------------- (3) SEC USE ONLY ----------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION United States ----------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES -------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 300 Common Shares OWNED BY -------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING -------------------------------------------------------- PERSON WITH (8) SHARED DISPOSITIVE POWER 300 Common Shares ----------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 300 Common Shares ----------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) [ ] ----------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.00% ----------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON (see instructions) IN ----------------------------------------------------------------------- CUSIP No. 644535106 13G Page 7 of 12 Pages ----------------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS Henry Swieca ----------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) [X] (b) [ ] ----------------------------------------------------------------------- (3) SEC USE ONLY ----------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION United States ----------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES -------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 300 Common Shares OWNED BY -------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING -------------------------------------------------------- PERSON WITH (8) SHARED DISPOSITIVE POWER 300 Common Shares ----------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 300 Common Shares ----------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) [ ] ----------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.00% ----------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON (see instructions) IN ----------------------------------------------------------------------- CUSIP No. 644535106 13G Page 8 of 12 Pages This Amendment No. 1 (this "Amendment") amends the statement on Schedule 13G filed on September 5, 2007 (the "Original Schedule 13G" and the Original Schedule 13G as amended, the "Schedule 13G") with respect to Common Shares without par value ("Common Shares") of New Gold, Inc., a corporation organized under the laws of British Columbia, Canada (the "Company"). Capitalized terms used herein and not otherwise defined in this Amendment have the meanings set forth in the Schedule 13G. This Amendment amends and restates Items 2(a), 2(b), 2(c), 4 and 5 in their entirety as set forth below. Item 2(a). Name of Person Filing Item 2(b). Address of Principal Business Office Item 2(c). Citizenship HIGHBRIDGE STATISTICAL OPPORTUNITIES MASTER FUND, L.P. c/o Harmonic Fund Services The Cayman Corporate Centre, 4th Floor 27 Hospital Road Grand Cayman, Cayman Islands, British West Indies Citizenship: Cayman Islands, British West Indies HIGHBRIDGE CAPITAL MANAGEMENT, LLC 9 West 57th Street, 27th Floor New York, New York 10019 Citizenship: State of Delaware GLENN DUBIN c/o Highbridge Capital Management, LLC 9 West 57th Street, 27th Floor New York, New York 10019 Citizenship: United States HENRY SWIECA c/o Highbridge Capital Management, LLC 9 West 57th Street, 27th Floor New York, New York 10019 Citizenship: United States Item 4. Ownership Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: As of the date of this filing, (i) Highbridge International LLC no longer beneficially owns any Common Shares, (ii) Highbridge Convertible Arbitrage Master Fund, L.P. no longer beneficially owns any Common Shares, (iii) Highbridge Statistical Opportunities Master Fund, L.P. beneficially owns 300 Common Shares and (iv) each of Highbridge Capital Management, LLC, Glenn Dubin and Henry Swieca may be deemed the beneficial owner of the 300 Common Shares beneficially owned by Highbridge Statistical Opportunities Master Fund, L.P. Highbridge Capital Management, LLC is the trading manager of Highbridge International LLC, Highbridge Convertible Arbitrage Master Fund, L.P. and Highbridge Statistical Opportunities Master Fund, L.P. Glenn Dubin is the CUSIP No. 644535106 13G Page 9 of 12 Pages Chief Executive Officer of Highbridge Capital Management, LLC. Henry Swieca is the Chief Investment Officer of Highbridge Capital Management, LLC. The foregoing should not be construed in and of itself as an admission by any Reporting Person as to beneficial ownership of Common Shares owned by another Reporting Person. In addition, each of Highbridge Capital Management, LLC, Glenn Dubin and Henry Swieca disclaims beneficial ownership of Common Shares held by Highbridge Statistical Opportunities Master Fund, L.P. (b) Percent of class: Exhibit 99.1 attached to the Company's Current Report on Form 6-K filed on August 14, 2008 indicates that as of June 30, 2008, there were 37,005,717 Common Shares outstanding. In addition, Exhibit 99.1 attached to the Company's Current Report on Form 6-K filed on September 16, 2008 indicates that on June 30, 2008, the Company completed a business combination with Metallica Resources Inc. and Peak Gold Ltd. Shareholders of Metallica Resources Ltd. received 0.9 Common Share for each common share of Metallica Resources Inc. As of June 30, 2008, there were 97,164,246 Common Shares of Metallica Resources Inc. outstanding. Therefore, the Company issued 87,447,821 Common Shares to the shareholders of Metallica Resources Inc. Shareholders of Peak Gold Ltd. received 0.1 Common Share for each common share of Peak Gold Ltd. As of June 30, 2008, there were 874,324,730 Common Shares of Peak Gold Ltd. outstanding. Therefore, the Company issued 87,432,473 Common Shares to the shareholders of Peak Gold Ltd. As a result, as of June 30, 2008, based on the foregoing calcualtion there were 211,886,011 Common Shares outstanding. Therefore, based on the Company's outstanding Common Shares, (i) Highbridge International LLC no longer beneficially owns any Common Shares of the Company, (ii) Highbridge Convertible Arbitrage Master Fund, L.P. no longer beneficially owns any Common Shares of the Company, (iii) Highbridge Statistical Opportunities Master Fund, L.P. beneficially owns approximately 0.00% of the outstanding Common Shares of the Company and (iv) each of Highbridge Capital Management, LLC, Glenn Dubin and Henry Swieca may be deemed to beneficially own approximately 0.00% of the outstanding Common Shares of the Company. The foregoing should not be construed in and of itself as an admission by any Reporting Person as to beneficial ownership of Common Shares owned by another Reporting Person. (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote 0 (ii) Shared power to vote or to direct the vote See Item 4(a) (iii) Sole power to dispose or to direct the disposition of 0 (iv) Shared power to dispose or to direct the disposition of See Item 4(a) Item 5. Ownership of Five Percent or Less of a Class CUSIP No. 644535106 13G Page 10 of 12 Pages If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following: [X] Exhibits: Exhibit I: Joint Filing Agreement, dated as of February 4, 2009, by and among Highbridge Statistical Opportunities Master Fund, L.P., Highbridge Capital Management, LLC, Glenn Dubin and Henry Swieca. CUSIP No. 644535106 13G Page 11 of 12 Pages SIGNATURES After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information with respect to it set forth in this statement is true, complete, and correct. Dated: February 4, 2009 HIGHBRIDGE CAPITAL MANAGEMENT, LLC HIGHBRIDGE INTERNATIONAL LLC By: Highbridge Capital Management, LLC its Trading Manager By: /s/ John Oliva ----------------------------- Name: John Oliva By: /s/ John Oliva Title: Managing Director ------------------------------ Name: John Oliva Title: Managing Director HIGHBRIDGE CONVERTIBLE ARBITRAGE HIGHBRIDGE STATISTICAL OPPORTUNITIES MASTER FUND, L.P. MASTER FUND, L.P. By: Highbridge Capital Management, LLC By: Highbridge Capital Management, LLC its Trading Manager its Trading Manager By: /s/ John Oliva By: /s/ John Oliva ------------------------------ ------------------------------ Name: John Oliva Name: John Oliva Title: Managing Director Title: Managing Director /s/ Glenn Dubin /s/ Henry Swieca --------------------------------- --------------------------------- GLENN DUBIN HENRY SWIECA CUSIP No. 644535106 13G Page 12 of 12 Pages EXHIBIT I JOINT FILING AGREEMENT This will confirm the agreement by and among the undersigned that the Schedule 13G filed with the Securities and Exchange Commission on or about the date hereof with respect to the beneficial ownership by the undersigned of the Common Shares without par value, of New Gold, Inc., is being filed, and all amendments thereto will be filed, on behalf of each of the persons and entities named below in accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Dated as of February 4, 2009 HIGHBRIDGE CAPITAL MANAGEMENT, LLC HIGHBRIDGE STATISTICAL OPPORTUNITIES MASTER FUND, L.P. By: Highbridge Capital Management, LLC By: /s/ John Oliva its Trading Manager --------------------------- Name: John Oliva Title: Managing Director By: /s/ John Oliva ------------------------------- Name: John Oliva Title: Managing Director /s/ Glenn Dubin /s/ Henry Swieca -------------------------------- ----------------------------------- GLENN DUBIN HENRY SWIECA