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New Pacific raises C$20.0M from warrants exercised by Pan American, Silvercorp

New Pacific Metals Corp. said May 22 that it raised about C$20.0 million from the exercise of 9.5 million previously issued share purchase warrants to Pan American Silver Corp. and Silvercorp Metals Inc.

The warrants were issued in connection with the private placement of units completed in November 2017.

Following the warrant exercise, Pan American's ownership in the company increased to 16.2% from 16% on a fully diluted basis, and Silvercorp's ownership increased to 28.76% from 27.76%.