FAQ: New Pacific Metals Corp. C$40.4 Million Financing and Key Investor Details
Summary
New Pacific Metals Corp. closed a C$40.42 million bought deal financing, with Silvercorp Metals and Pan American Silver as major investors, strengthening the company's capital position for its Bolivian precious metal projects.
What is the main announcement in this content?
New Pacific Metals Corp. has closed a C$40.42 million bought deal financing, issuing 11,385,000 common shares at C$3.55 per share, including full exercise of the underwriters’ over-allotment option.
How much money did New Pacific Metals raise and at what share price?
The company raised approximately C$40.42 million through the issuance of 11,385,000 common shares at a price of C$3.55 per share.
Which major investors participated in this financing?
Silvercorp Metals Inc. invested C$10.95 million for 3,083,536 shares, while Pan American Silver Corp. purchased C$4.49 million worth of shares (1,263,416 shares).
What ownership percentages do the major investors hold after this financing?
Silvercorp Metals maintains a 27.99% stake in the company, while Pan American Silver holds 11.47% ownership following their investments.
What type of transaction was this and were there any special considerations?
These transactions qualified as related party transactions under MI 61-101 but were exempt from valuation and minority approval requirements.
What are New Pacific Metals’ main projects mentioned in the content?
The company has three precious metal projects in Bolivia: the flagship Silver Sand Silver Project, the recently discovered Carangas Silver-Gold Project, and the Silverstrike Silver-Gold Project.
Where can investors find more information about New Pacific Metals?
The latest news and updates relating to NEWP are available in the company’s newsroom at http://ibn.fm/NEWP, and the full press release can be viewed at https://ibn.fm/Cm9qJ.
What is MiningNewsWire and what services do they provide?
MiningNewsWire is a specialized communications platform focused on global mining and resources sectors, providing wire solutions, article syndication, press release enhancement, social media distribution, and corporate communications solutions through the IBN network.
How can people receive SMS alerts from MiningNewsWire?
To receive SMS alerts from MiningNewsWire, text ‘BigHole’ to 888-902-4192 (U.S. Mobile Phones Only).
This story is based on an article that was registered on the blockchain. The original source content used for this article is located at InvestorBrandNetwork (IBN)
Article Control ID: 259760