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TSX-V : NUX | 11/22/2008 12:44:48 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 Mar 19, 2007 New Pacific Metals Closes $12,937,500 Private Placement
VANCOUVER, BRITISH COLUMBIA -- March 19, 2007 -- New Pacific Metals Corp. (TSX-V:NUX) advises that the private placement announced February 22, 2007 was over-subscribed and has now closed. A total of $12,937,500 was raised through the sale of 5,175,000 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 proceeds will be utilized for continuing work on the Kang Dian Nickel/Copper Project and for general operating capital. The securities issued are subject to a hold period expiring July 16, 2007. Silvercorp Metals Inc., holder of 26% of the outstanding shares of New Pacific Metals Corp., has subscribed for 900,000 Units of the private placement. A finder's fee of six percent is being paid to registered agents in respect of the sale of up to 2,000,000 of the Units. 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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