New Pacific Metals Reports 2017 AGM Results
TSX VENTURE: NUAG
VANCOUVER, British Columbia, Nov. 29, 2017 (GLOBE NEWSWIRE) -- New Pacific Metals Corp. (“New Pacific” or the “Company”) (TSXV:NUAG) is pleased to report that all matters submitted to the shareholders for approval as set out in the Company's Notice of Meeting and Information Circular, both dated October 24, 2017, were approved by the requisite majority of votes cast at the annual general meeting of the shareholders held on November 28, 2017 (the “AGM”).
The details of the voting results for the election of directors are set out below:
|Votes For||Withheld Votes|
Shareholders, at the AGM, voted 99.97% in favour of approving the amended stock option plan. Shareholders also approved the re-appointment of Deloitte LLP as auditors of the Company for the ensuing year at the remuneration to be fixed by the directors. Final results for all matters voted on at the AGM will be filed on SEDAR at www.sedar.com and on the Company's website.
APPOINTMENT OF PAN AMERICAN SILVER DIRECTOR NOMINEE – MARTIN WAFFORN
New Pacific is pleased to announce that following the AGM, it increased the number of directors on its board from five to six and appointed Mr. Martin Wafforn as a director. Mr. Wafforn was nominated by Pan American Silver Corp. (“Pan American Silver”), the Company’s second largest shareholder. Pan American Silver acquired a 12.1% interest in New Pacific in a private placement announced on November 27, 2017.
Mr. Wafforn is a mining engineer who brings with him more than 35 years of experience in the mining industry. He has been at Pan American Silver since early 2004, and is currently Senior Vice President, Technical Services and Process Optimization where he is involved in the technical aspects of the feasibility, development and successful operation of that company’s mines in addition to leading the safety department. Prior to joining Pan American Silver, Mr. Wafforn spent 15 years working with Barrick and its predecessor Homestake at different underground mines and was Manager of Mine Engineering for Barrick’s global operations. He holds a B.Sc Mining Honours from Camborne School of Mines in England and is registered as a P.Eng in British Columbia.
About New Pacific
New Pacific is a Canadian exploration and development company which owns the Silver Sand Project in the Potosi Department of Bolivia, the Tagish Lake gold project in Yukon, Canada and the RZY Project in Qinghai Province, China. Its largest shareholders are Silvercorp Metals Inc. (TSX/NYSE American:SVM), the largest primary silver producer in China, and Pan American Silver Corp. (TSX/NASDAQ:PAAS), one of the world’s largest primary silver producers, which operates six mines, including the San Vicente mine located in the Potosí Department of Bolivia.