New Pacific Metals Announces C$35.1 Million Bought Deal Financing

Executive Summary

• New Pacific Metals Corp. announced a bought‑deal equity offering of 9,900,000 common shares at C$3.55 per share, targeting gross proceeds of approximately C$35.1 million (US$25.1 million).
• Silvercorp Metals Inc. will subscribe for 2,776,950 shares (~C$9.86 million), which would give it an indirect ownership of ~28.05% of New Pacific’s common equity post‑offering (assuming no over‑allotment exercised).
• Net proceeds are earmarked for exploration and development at the Carangas and Silver Sand projects, working capital, and general corporate purposes; closing is expected around October 21, 2025 pending regulatory approvals.

Key Details

• Offering Size: 9,900,000 common shares (bought‑deal).
• Price per Share: C$3.55.
• Gross Proceeds: Approximately C$35.1 million (≈US$25.1 million).
• Underwriters: Raymond James Ltd. (sole bookrunner) and BMO Capital Markets (co‑lead underwriter), with a syndicate of additional underwriters.
• Over‑Allotment Option: Up to 1,485,000 additional shares; exercisable for 30 days after closing.
• Silvercorp Participation: Subscription for 2,776,950 shares (~C$9.86 million). Post‑offering ownership ≈28.05% (if over‑allotment not exercised).
• Offering Mechanics: Shares to be offered in all Canadian provinces except Québec via a prospectus supplement to the existing short‑form base shelf prospectus dated Oct 3, 2025; may also be offered privately in the U.S. under exemption.
• Use of Proceeds: Exploration and further development at Carangas project and Silver Sand project; working capital; general corporate purposes.
• Expected Closing: On or about October 21, 2025, subject to TSX approval and NYSE American listing of the shares.
• Regulatory Notes: Offering not registered under U.S. securities laws; cannot be sold in the U.S. or to U.S. persons absent exemption. Silvercorp transaction qualifies as a related‑party exempt transaction under NI 61‑101.

Notable Quotes

• Jalen Yuan, Interim CEO: “The proceeds from this offering will accelerate our exploration and development programs at Carangas and Silver Sand, positioning New Pacific for sustained growth.” (quote extracted from the release)