VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 28, 2017) - New Pacific Metals Corp. ("New Pacific" or the "Company") (TSX VENTURE:NUAG) is pleased to announce that it has closed its previously announced private placement (the "Private Placement") of 1,250,000 common shares (the "Shares") at a price of US$0.80 per Share for gross proceeds of US$1,000,000. The proceeds from the Private Placement will be used by the Company for payments to be made in connection with its previously announced acquisition of Empresa Minera Alcira SA.
The Shares will have a hold period expiring four months and a day from today's date.
About New Pacific
New Pacific Metals Corp. is a Canadian investment company with investment focus on mineral resource industry. Silvercorp Metals Inc. (TSX:SVM), the largest primary silver producer in China, is the major shareholder.
