New Pacific Metals Closes C$35 Million Bought Deal Financing

VANCOUVER, British Columbia, Sept. 29, 2023 (GLOBE NEWSWIRE) -- New Pacific Metals Corp. (TSX: NUAG; NYSE American: NEWP) (“New Pacific” or the “Company”) announced today that it has closed (the "Closing") the bought deal financing that was previously announced on September 25, 2023. A total of 13,208,000 common shares of the Company (the “Offered Shares”) were sold under the Offering (as defined below) at a price of C$2.65 per Offered Share (the “Issue Price”) for total gross proceeds of approximately C$35 million (the “Offering”). The Offering was through a syndicate of underwriters (the “Underwriters”), pursuant to the terms of an underwriting agreement between the Company and the Underwriters dated September 26, 2023 (the "Underwriting Agreement").

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