RHJ/iStock via Getty Images
New metals from the Pacific (New York Stock Exchange: NEWP) -5.8% after trading Monday after saying a syndicate of underwriters agreed to buy more than 13.2 million common shares in a deal bought at C$2.65 per share, for total gross proceeds of ~$35 million Canadians.
The company will also give subscribers an overallotment option to purchase up to ~1.98 million additional common shares.
Silvercorp Metals (SVM) plans to subscribe for over 2.5 million common shares representing ~$5 million in gross proceeds, which would increase its stake in New Pacific Metals (NEWP) to 27.4%, excluding any over-allotments.
Additionally, Pan American Silver (PAAS) plans to subscribe for over 5 million common shares representing ~$10 million in gross proceeds, which would increase its stake in New Pacific (NEWP) to ~11.6%, excluding any overallotment .
New Pacific (NEWP) said it will use the proceeds from the offering to advance the exploration and development of its Silver Sand and Carangas projects, as working capital and for general corporate purposes.
