VANCOUVER, BC, July
16, 2021 /CNW/ - New Pacific Metals Corp. ("New Pacific" or
the "Company") (TSX: NUAG) (NYSE-A: NEWP) is pleased to
announce that it has filed a final short form base shelf prospectus
(the "Prospectus") with the securities regulatory authorities in
each of the provinces of Canada
and a corresponding shelf registration statement on Form F-10 with
the U.S. Securities and Exchange Commission (the "Registration
Statement"). The Prospectus is expected to provide the Company with
a flexible and efficient approach for completing future
financings.
The Prospectus and Registration Statement enable the Company to
make offerings of up to US$200,000,000 of common shares, preferred
shares, debt securities, warrants, units or subscription receipts
of the Company or any combination thereof from time to time,
separately or together, in amounts, at prices and on terms to
be determined based on market conditions at the time of the
offering and as set out in an accompanying prospectus supplement,
during the 25-month period that the Prospectus is effective. The
specific terms of any future offering will be established in a
supplement to the Prospectus, which will be filed with the
applicable Canadian securities regulatory authorities.
A copy of the Prospectus can be found under the Company's
profile on www.sedar.com and a copy of the Registration Statement
can be found under the Company's EDGAR profile at www.sec.gov.
A copy of the Prospectus and Registration Statement may also
be obtained from the Company upon written request from the contact
below.
This news release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which an offer,
solicitation or sale would be unlawful prior to registration or
qualifications under the securities laws of any such
jurisdiction.
ABOUT NEW PACIFIC
New Pacific is a Canadian exploration and development company
with precious metal projects, including the flagship Silver Sand
Project, the Silverstrike Project and the Carangas Project, all of
which are located in Bolivia. The
Company is focused on progressing the development of the Silver
Sand Project, while growing its Mineral Resources through the
exploration and acquisition of properties in the Americas.
For further information, please
contact:
Stacey Pavlova, CFA
VP, Investor Relations and Corporate Communications
New Pacific Metals Corp.
Phone: (604) 633-1368
U.S. & Canada toll-free:
1-877-631-0593
E-mail: info@newpacificmetals.com
www.newpacificmetals.com
To receive company news by e-mail, please register using New
Pacific's website at www.newpacificmetals.com.
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 performance (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. Such statements
include, but are not limited to: statements regarding anticipated
exploration, drilling, development, construction, and other
activities or achievements of the Company; timing of receipt of
permits and regulatory approvals; and estimates of the Company's
revenues and capital expenditures.
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, risks relating to: global economic
and social impact of COVID-19; fluctuating equity prices, bond
prices, commodity prices; calculation of resources, reserves and
mineralization, general economic conditions, foreign exchange
risks, interest rate risk, foreign investment risk; loss of key
personnel; conflicts of interest; dependence on management,
uncertainties relating to the availability and costs of financing
needed in the future, environmental risks, operations and political
conditions, the regulatory environment in Bolivia and Canada, risks associated with community
relations and corporate social responsibility, and other factors
described under the heading "Risk Factors" in the Company's Annual
Information Form for the year ended June 30,
2020 and its other public filings.
This list is not exhaustive of the factors that may affect
any of the Company's forward-looking statements or
information.
The forward-looking statements are necessarily based on a
number of estimates, assumptions, beliefs, expectations and
opinions of management as of the date of this news release that,
while considered reasonable by management, are inherently subject
to significant business, economic and competitive uncertainties and
contingencies. These estimates, assumptions, beliefs,
expectations and options include, but are not limited to, those
related to the Company's ability to carry on current and future
operations, including: the duration and effects of COVID-19 on our
operations and workforce; development and exploration activities;
the timing, extent, duration and economic viability of such
operations; the accuracy and reliability of estimates, projections,
forecasts, studies and assessments; the Company's ability to meet
or achieve estimates, projections and forecasts; the stabilization
of the political climate in Bolivia; the Company's ability to obtain and
maintain social license at its mineral properties; the availability
and cost of inputs; the price and market for outputs; foreign
exchange rates; taxation levels; the timely receipt of necessary
approvals or permits, including the ratification and approval of
the Mining Production Contract with COMIBOL by the Plurinational
Legislative Assembly of Bolivia;
the validity of the joint venture structure for the Silverstrike
Project and the Carangas Project; the ability to meet current and
future obligations; the ability to obtain timely financing on
reasonable terms when required; the current and future social,
economic and political conditions; and other assumptions and
factors generally associated with the mining industry.
Although the forward-looking statements contained in this
news release are based upon what management believes are reasonable
assumptions, there can be no assurance that actual results will be
consistent with these forward-looking statements. All
forward-looking statements in this news release are qualified by
these cautionary statements. Accordingly, readers should not
place undue reliance on such statements. Other than specifically
required by applicable laws, the Company is under no obligation and
expressly disclaims any such obligation to update or alter the
forward-looking statements whether as a result of new information,
future events or otherwise except as may be required by law.
These forward-looking statements are made as of the date of this
news release.
CAUTIONARY NOTE TO US INVESTORS
The disclosure in this news release and referred to herein
was prepared in accordance with NI 43-101 which differs
significantly from the requirements of the U.S. Securities and
Exchange Commission (the "SEC"). The terms "proven mineral
reserve", "probable mineral reserve" and "mineral reserves" used in
this news release are in reference to the mining terms defined in
the Canadian Institute of Mining, Metallurgy and Petroleum
Standards (the "CIM Definition Standards"), which definitions have
been adopted by NI 43-101. Accordingly, information contained
in this news release providing descriptions of our mineral deposits
in accordance with NI 43-101 may not be comparable to similar
information made public by other U.S. companies subject to
the United States federal
securities laws and the rules and regulations thereunder.
Investors are cautioned not to assume that any part or all of
mineral resources will ever be converted into reserves. Pursuant to
CIM Definition Standards, "Inferred mineral resources" are that
part of a mineral resource for which quantity and grade or quality
are estimated on the basis of limited geological evidence and
sampling. Such geological evidence is sufficient to imply but
not verify geological and grade or quality continuity. An
inferred mineral resource has a lower level of confidence than that
applying to an indicated mineral resource and must not be converted
to a mineral reserve. However, it is reasonably expected that the
majority of inferred mineral resources could be upgraded to
indicated mineral resources with continued exploration. Under
Canadian rules, estimates of inferred mineral resources may not
form the basis of feasibility or pre-feasibility studies, except in
rare cases. Investors are cautioned not to assume that all or
any part of an inferred mineral resource is economically or legally
mineable. Disclosure of "contained ounces" in a resource is
permitted disclosure under Canadian regulations; however, the SEC
normally only permits issuers to report mineralization that does
not constitute "reserves" by SEC standards as in place tonnage and
grade without reference to unit measures.
Canadian standards, including the CIM Definition Standards
and NI 43-101, differ significantly from standards in the SEC
Industry Guide 7. Effective February
25, 2019, the SEC adopted new mining disclosure rules under
subpart 1300 of Regulation S-K of the United States Securities Act
of 1933, as amended (the "SEC Modernization Rules"), with
compliance required for the first fiscal year beginning on or after
January 1, 2021. The SEC
Modernization Rules replace the historical property disclosure
requirements included in SEC Industry Guide 7. As a result of
the adoption of the SEC Modernization Rules, the SEC now recognizes
estimates of "Measured Mineral Resources", "Indicated Mineral
Resources" and "Inferred Mineral Resources". In addition, the
SEC has amended its definitions of "Proven Mineral Reserves" and
"Probable Mineral Reserves" to be substantially similar to
corresponding definitions under the CIM Definition Standards.
During the period leading up to the compliance date of the SEC
Modernization Rules, information regarding mineral resources or
reserves contained or referenced in this news release may not be
comparable to similar information made public by companies that
report according to U.S. standards. While the SEC
Modernization Rules are purported to be "substantially similar" to
the CIM Definition Standards, readers are cautioned that there are
differences between the SEC Modernization Rules and the CIM
Definitions Standards. Accordingly, there is no assurance any
mineral reserves or mineral resources that the Company may report
as "proven mineral reserves", "probable mineral reserves",
"measured mineral resources", "indicated mineral resources" and
"inferred mineral resources" under NI 43-101 would be the same had
the Company prepared the reserve or resource estimates under the
standards adopted under the SEC Modernization Rules.
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SOURCE New Pacific Metals Corp.