New Pacific Metals Closes C$40.4 Million Equity Financing

New Pacific Metals Corp. closed a C$40.42 million bought deal equity financing, issuing 11,385,000 common shares at C$3.55 per share. The offering included full exercise of the underwriters' over-allotment option. Related parties Silvercorp Metals Inc. and Pan American Silver Corp. participated, acquiring 27.99% and 11.47% of outstanding shares respectively. Proceeds will fund exploration and development at the Carangas and Silver Sand projects, along with general corporate purposes. The transaction was exempt from MI 61-101 valuation and minority approval requirements due to exemptions for related party transactions. The financing was conducted via a prospectus supplement to the company's base shelf prospectus.