Vancouver, British Columbia– Nova Pacific Metals Corp. is pleased to announce a non-brokered private placement (the “Private Placement”) for gross proceeds of up to $2,000,000. The Private Placement will consist of up to 8,000,000 units priced at $0.25 per unit, with each unit including one common share of the company and one warrant. The warrant will allow the holder to purchase an additional share at an exercise price of $0.40 for a period of two years.
The company’s CEO, Mr. J. Malcolm Bell, stated that the financing from the Private Placement will contribute substantially to the development and production potential of the Lara “Kuroko” style massive sulfide deposit project. The proceeds will be used for exploration, general corporate purposes, and working capital. All securities issued in connection with this Private Placement are subject to a statutory hold period of four months and one day.
In connection with the Private Placement, the company may pay finder’s fees to eligible non-related parties and issue broker warrants equal to up to 8% of the units sold. Nova Pacific is a Canadian exploration and development company focused on pursuing projects with significant mineral discoveries that provide a viable pathway to potential development. The company’s key projects include the Lara VMS project and Deer Musk West Lithium project.
For additional information, please visit the company’s website. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. The company’s actual results could differ materially from those anticipated in forward-looking information due to various factors beyond its control. The company disclaims any intention or obligation to update or revise any forward-looking information. Source: Nova Pacific Metals Corp.
