New Pacific Announces Sale of Cozystay Shares to Silvercorp
NEWS RELEASE
Trading Symbol: TSX-V: NUAG
OTCQX: NUPMF
NEW PACIFIC ANNOUNCES SALE OF COZYSTAY SHARES TO SILVERCORP
VANCOUVER, BRITISH COLUMBIA – March 28, 2019 - New Pacific Metals Corp. (“New Pacific” or the “Company”)
(TSX-V:NUAG) (OTCQX:NUPMF) today announces it has entered into a share purchase agreement with Silvercorp
Metals Inc. (" Silvercorp"), a control person of the Company, for the purchase by Silvercorp of 750,750 shares of
Cozystay Holdings Inc. held by the Company for an aggregate purchase price of US$495,495 payable in cash (the
"Transaction").
The Transaction is subject to the approval of the TSX Venture Exchange.
As Silvercorp is a control person of the Company, the Transaction is considered a "related party transaction", as
defined under Multilateral Instrument 61 -101 Protection of Minority Security Holders in Special Transactions ("MI
61-101") and the Company is re lying on the exemption from the formal valuation requirement of MI 61-101 as set
out in Section 5.5(a) of MI 61-101 and the exemption from the minority approval requirement of MI 61 -101 as set
out 5.7(1)(a) of MI 61-101 for the Transaction.
ABOUT NEW PACIFIC
New Pacific Metals Corp. 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.
For further information, please contact:
New Pacific Metals Corp.
Gordon Neal
President
Phone: (604) 633-1368
Fax: (604) 669-9387
www.newpacificmetals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Certain of the statements and information in this news release constitute “forward -looking statements” within the
meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward -looking information”
within the meaning of applicable Canadian provincial securities laws. Any statements or information that express
or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions
or future events or perfor mance (often, but not always, using words or phrases such as “expects”, “is expected”,
“anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”,
“forecasts”, “objectives”, “budgets”, “schedules”, “ potential” or variations thereof or stating that certain actions,
events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any
of these terms and similar expressions) are not statements of historical fact and may be forward -looking
statements or information. Forward -looking statements in this news release relate to, among other things, the
timing and receipt of stock exchange approvals; and the closing of the Transaction.
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and
other factors that could cause actual events or results to differ from those reflected in the forward -looking
statements or information, including, without limitation, ris ks relating to: satisfaction or waiver of all applicable
conditions to closing of the Transaction including, without limitation, receipt of all stock exchange approvals.
The Company’s forward-looking statements or information are based on the assumptions, beliefs, expectations and
opinions of management as of the date of this news release, and other than as required by applicable securities
laws, the Company does not assume any obligation to update forward -looking statements or information if
circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any
other events affecting such statements or information. For the reasons set forth above, investors should not place
undue reliance on forward-looking statements or information.