New Pacific Raises $19,950,000 from Exercise of Warrants BY Pan American Silver and Silvercorp
NEWS RELEASE
Trading Symbol: TSX-V: NUAG
OTCQX: NUPMF
NEW PACIFIC RAISES $19,950,000 FROM EXERCISE OF WARRANTS BY
PAN AMERICAN SILVER AND SILVERCORP
VANCOUVER, BRITISH COLUMBIA – May 22, 2019 – New Pa cific Metals Corp. (“New Pacific” or the
“Company”) (TSX-V:NUAG) (OTCQX:NUPMF) is pleased to announce that it has raised gross proceeds of
$19,950,000 as a result of 9,500,000 previously iss ued common share purchase warrants (the “Warrants” )
being exercised (the “Warrant Exercise”) by Pan Ame rican Silver Corp. (“Pan American”) and Silvercorp
Metals Inc. (“Silvercorp”).
The Warrants were issued in connection with the Company’s strategic private placement of units completed
in November 2017 pursuant to which Pan American sub scribed for 16,000,000 units and Silvercorp
subscribed for 3,000,000 units. Each unit was comprised of one common share of the Company (a “Common
Share”) and one half of one Warrant. Each whole Wa rrant was exercisable into one Common Share at an
exercise price of $2.10 per Common Share.
Early Warning Report Information
Pan American
Prior to the Warrant Exercise, Pan American held ap proximately 12% of the total number of issued and
outstanding Common Shares on a non-diluted basis, a nd approximately 16% of the issued and outstanding
Common Shares on a fully-diluted basis, assuming th e exercise of the Warrants then held by Pan America n.
Immediately following the Warrant Exercise, Pan Ame rican directly owned 24,000,000 Common Shares,
including 16,000,000 previously acquired Common Shares pursuant to the November 2017 private placement
and 8,000,000 Common Shares acquired through the Wa rrant Exercise, representing approximately 16.85%
of the total number of issued and outstanding Commo n Shares on a non-diluted basis, and approximately
16.20% of the issued and outstanding Common Shares on a fully-diluted basis.
Pan American’s acquisition of the additional Common Shares was made for investment purposes, and it may,
in the future, acquire ownership and control over a dditional securities of New Pacific for investment
purposes.
The foregoing disclosure regarding Pan American’s h oldings is being disseminated pursuant to National
Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues . A
copy of the early warning report will be filed on t he System for Electronic Document Analysis and Revi ew
(SEDAR) under New Pacific's profile at www.sedar.com and may be obtained by contacting Ms. Siren Fisekci,
VP, Investor Relations for Pan American, at 604-684-1175.
Silvercorp
Prior to the Warrant Exercise, Silvercorp held appr oximately 29.81% of the total number of issued and
outstanding Common Shares on a non-diluted basis, and approximately 27.76% of the issued and outstanding
Common Shares on a fully-diluted basis, assuming th e exercise of the Warrants then held by Silvercorp.
Immediately following the Warrant Exercise, Silverc orp owned, directly or indirectly, 41,096,300 Commo n
Shares, including 3,000,000 previously acquired Com mon Shares pursuant to the November 2017 private
placement and 1,500,000 Common Shares acquired thro ugh the Warrant Exercise, representing
approximately 28.87% of the total number of issued and outstanding Common Shares on a non-diluted basis,
and approximately 28.76% of the issued and outstanding Common Shares on a fully-diluted basis.
Silvercorp’s acquisition of the additional Common Shares was made for investment purposes, and it may, in
the future, acquire ownership and control over additional securities of New Pacific for investment purposes.
The foregoing disclosure regarding Silvercorp’s hol dings is being disseminated pursuant to National
Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues . A
copy of Silvercorp’s early warning report will be f iled on the System for Electronic Document Analysis and
Review under New Pacific's profile at www.sedar.com and may be obtained by contacting Lon Shaver, VP for
Silvercorp at 604-669-9397.
ABOUT NEW PACIFIC
New Pacific is a Canadian exploration and developme nt company which owns the Silver Sand Project in th e
Potosí Department of Bolivia, the Tagish Lake gold project in Yukon, Canada and the RZY Project in Qin ghai
Province, China. Its largest shareholders are Silvercorp Metals Inc., and Pan American Silver Corp., one of the
world's largest primary silver producers, which operates ten mines, including the San Vicente mine located in
the Potosí Department of Bolivia.
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 Ser vices 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 n ews release constitute “forward-looking statements” within the
meaning of the United States Private Securities Lit igation Reform Act of 1995 and “forward-looking inf ormation”
within the meaning of applicable Canadian provincia l securities laws. Any statements or information th at express
or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objecti ves, assumptions
or future events or performance (often, but not alw ays, using words or phrases such as “expects”, “is expected”,
“anticipates”, “believes”, “plans”, “projects”, “es timates”, “assumes”, “intends”, “strategies”, “targ ets”, “goals”,
“forecasts”, “objectives”, “budgets”, “schedules”, “potential” or variations thereof or stating that c ertain actions,
events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the ne gative of any
of these terms and similar expressions) are not sta tements of historical fact and may be forward-looki ng
statements or information. Forward-looking statemen ts in this news release relate to, among other thin gs, the
timing and receipt of stock exchange approvals; and the closing of the Transaction.
Forward-looking statements or information are subje ct to a variety of known and unknown risks, uncerta inties and
other factors that could cause actual events or res ults to differ from those reflected in the forward- looking
statements or information, including, without limit ation, risks 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, expecta tions and
opinions of management as of the date of this news release, and other than as required by applicable s ecurities
laws, the Company does not assume any obligation to update forward-looking statements or information i f
circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any
other events affecting such statements or informati on. For the reasons set forth above, investors shou ld not place
undue reliance on forward-looking statements or information.