New Pacific Metals Corp. Announces Bought Deal Financing (C$25 Million)

Pan American Silver_20052020

Vancouver, British Columbia (May 19, 2020) – New Pacific Metals Corp. (TSX-V: NUAG) (“New Pacific” or the “Company”) and Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) (“Pan American”) have announced concurrent offerings. New Pacific has announced today that it has entered into an agreement with BMO Capital Markets (“BMO”) as sole underwriter, under which BMO has agreed to buy on bought deal basis 4,238,000 common shares (the “Common Shares”), at a price of C$5.90 per Common Share for gross proceeds of approximately C$25 million (the “Offering”). The Company has granted BMO an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The Offering is expected to close on or about June 9, 2020 and is subject to the Company receiving all necessary regulatory and stock exchange approvals.

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