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TSX-V : NUX | 11/22/2008 12:42:55 AM ET |  |
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New Pacific Metals Corp. is a Canadian public company listed on the TSX Venture Exchange with a trading symbol, NUX and on the OTC Pink Sheet with a trading symbol, NUXFF. Silvercorp Metals Inc. (TSX: SVM), the largest silver producer in China, is the company's major shareholder with an interest of 23.8%. The company's mandate is to explore and develop gold-polymetallic projects in China, utilizing its operating experience in China. The company is actively drilling and tunneling to define mineable high grade gold reserves at its HNK project located in the Guangdong province. | |
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News Release | |
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News Release: 2007 Feb 22, 2007 New Pacific Metals Private Placement
VANCOUVER, BRITISH COLUMBIA -- (February 22, 2007) -- New Pacific Metals Corp. (NUX) is pleased to announce that it has arranged a non-brokered private placement of 5,000,000 Units at $2.50 per Unit. Each Unit is comprised of one common share and one-half of one share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share at $3.00 for a period of one year from closing. The $12,500,000 proceeds will be utilized for continuing work on the Kang Dian Nickel/Copper Project and for general operating capital. Silvercorp Metals Inc., holder of 26.7% of the outstanding shares of New Pacific Metals Corp., will subscribe for 1,000,000 Units of the private placement. A finder's fee of six percent will be paid to registered agents for 2,000,000 Units. The placement is subject to regulatory approval. For Further Information: New Pacific Metals Corp. Lou Duarte, Director Cathy Fong, Vice President Phone: +1 (604) 633-1368 Fax: +1 (604) 669-9387 Email: info@newpacificmetals.com Website: www.newpacificmetals.com The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the release.  Download News Release (PDF: 21KB) |
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Copyright © 2008 New Pacific Metals Corp. All rights reserved. | |
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