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New Pacific Metals secures $25M bought deal financing for Bolivia Silver Sand project

The company offered more than 4.2 million common shares at a price of $5.90 per share

New Pacific Metals' Silver Sand project
New Pacific, based in Vancouver, is an exploration and development company that owns the Silver Sand Project in the Potosí Department of Bolivia

New Pacific Metals Corp (CVE:NUAG) has closed a previously announced bought deal offering worth $25 million, which it plans to put toward exploration and development at its Silver Sand project and others in Bolivia.

The company offered more than 4.2 million common shares at a price of $5.90 per share. As previously announced, Silvercorp Metals Inc purchased 1.3 million shares, maintaining its pro rata interest of 28.8% and further increasing its interest by 100,000 shares.

Silvercorp is a profitable Canadian mining company producing silver, lead and zinc metals in concentrates from mines in China.

READ: New Pacific Metals appoints CEO Mark Cruise to the board

The offering was underwritten by BMO Capital Markets.

New Pacific, based in Vancouver, is an exploration and development company that owns the Silver Sand Project in the Potosí Department of Bolivia and the Tagish Lake Gold Project in Yukon, Canada.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Quick facts: New Pacific Metals

Price: 7.15 CAD

TSX:NUAG
Market: TSX
Market Cap: $1.09 billion
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New Pacific Metals provides update at their Silver Sand and Silverstrike...

New Pacific Metals (TSE: NUAG-OTCQX: NUPMF) President Gordan Neal joined Steve Darling from Proactive to provide an update on their two key projects that have seen some new developments. Neal talking about Silver Sands and the Silver Strike projects in Bolivia, which has seen reconnaissance and...

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