Vancouver, British Columbia (June 28, 2011) – New Pacific Metals Corp. (TSXV: “NUX”) (the “Company” or “New Pacific”), has retained the services of Michael Baybak and Company, Inc., of Florida, (“MBC”) to assist in its US investor relations. Subject to TSX-V approval, MBC will be initially granted options to acquire 200,000 common shares of the Company at a price of $1.51 cents per share, half of which will vest in six months and the remaining half will vest in one year. All these options will expire at the end of five years. In addition, MBC and will be paid a monthly fee of $8,000 for the duration of the one year contract. The agreement with MBC contemplates that its activities must be in compliance with applicable rules and regulations. The Company can end these services at 10 days notice.
MBC will focus on developing and expanding the Company’s communications with the US investment community through a comprehensive investor relations program. MBC has been providing investor relations services to the mining industry for over twenty years. Services to be provided to the Company include: marketing to the US investment community, use of MBC’s proprietary database and contacts, and organization of meetings and presentations on behalf of the Company.
The Company also announces that, subject to regulatory approval, it has granted an aggregate of 215,000 incentive stock options at a price of $1.42 cents per share to consultants and employees of the Company; these stock options expire at the end of five years and are subject to a vesting period of 48 months.
New Pacific is engaged in the exploration and development of mineral resources and gold-poly-metallic projects in Canada and China. New Pacific has extensive experience in implementing high grade resource development projects.
Forward Looking Information
This news release may contain forward looking statements, being statements which are not historical facts, including, without limitation, discussion of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based on a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. New Pacific Metals disclaims any intention or obligations to revise or update such statements.
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