New Pacific Metals closes C$40.4 million financing deal

New Pacific Metals Corp. (TSX: NUAG) (NYSE American: NEWP) completed a bought deal financing that raised C$40.42 million in gross proceeds, according to a company statement.

The company sold 11,385,000 common shares at C$3.55 per share. The total includes shares purchased through the full exercise of underwriters' over-allotment option for an additional 1,485,000 shares.

Two related parties participated in the offering. Silvercorp Metals Inc. purchased 3,083,536 shares for approximately C$10.95 million, bringing its ownership to 27.99% of outstanding common shares. Pan American Silver Corp. acquired 1,263,416 shares for approximately C$4.49 million, representing 11.47% of outstanding shares.

The transaction was completed through a prospectus supplement dated October 15, 2025, under the company's base shelf prospectus from October 3, 2025.

New Pacific stated it intends to use net proceeds for exploration and development at its Carangas project and Silver Sand project, along with working capital and general corporate purposes.

The Vancouver-based company operates precious metal projects in Bolivia, including the Silver Sand Silver Project, the Carangas Silver-Gold Project, and the Silverstrike Silver-Gold Project.

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