New Pacific Metals Secures C$40.4 Million in Financing with Major Mining Company Backing

New Pacific Metals Corp. has completed a major financing round, raising approximately C$40.42 million through a bought deal offering that saw strong participation from established mining companies. The company issued 11,385,000 common shares at C$3.55 per share, with the offering including full exercise of the underwriters' over-allotment option. This substantial capital infusion represents a significant vote of confidence in New Pacific's exploration and development strategy, particularly for its Bolivian precious metal projects.

The financing attracted notable strategic investors, with Silvercorp Metals Inc. committing C$10.95 million for 3,083,536 shares, maintaining its position as a major shareholder with 27.99% ownership. Simultaneously, Pan American Silver Corp. demonstrated its confidence in New Pacific's prospects by purchasing 1,263,416 shares for C$4.49 million, representing 11.47% ownership. Both transactions qualified as related party transactions under MI 61-101 but were exempt from valuation and minority approval requirements, streamlining the investment process.

The successful completion of this financing provides New Pacific with substantial working capital to accelerate development of its key projects in Bolivia. The company's flagship Silver Sand Silver Project, along with the recently discovered Carangas Silver-Gold Project and the Silverstrike Silver-Gold Project, stand to benefit from this financial backing. The participation of established mining companies like Silvercorp and Pan American Silver not only provides capital but also brings valuable industry expertise and validation to New Pacific's exploration efforts.

For investors seeking additional information about New Pacific Metals, the company maintains an updated newsroom available at https://ibn.fm/NEWP where stakeholders can access the latest corporate developments and project updates. The financing's success reflects growing market confidence in Bolivia's mining potential and New Pacific's ability to develop its asset portfolio. This capital raise positions the company to advance its projects through key development milestones while maintaining strong financial backing from industry leaders.