VANCOUVER, BC, Dec. 6, 2021
/PRNewswire/ - New Pacific Metals Corp. ("New Pacific" or the
"Company") (TSX: NUAG) (NYSE American: NEWP) is pleased to announce
the election of two additional directors, Ms. Maria Tang and Mr. Terry
Salman, to its Board of Directors (the "Board") and the
voting results of the annual general meeting of the shareholders
held on December 3, 2021 (the "AGM").
Mr. Gregory Hawkins did not stand
for re-election as a director and ceased to be a director effective
December 3, 2021. The Company thanks
Mr. Hawkins for his time, services, and contributions during his
11-year tenure.
The Chairman of the Board, Jack
Austin, said "We are excited to welcome Ms. Tang and Mr.
Salman to the Board as they bring extensive business skills with a
focus in the mining industry. Their expertise will strengthen the
Board's ability to oversee the Company as it continues to create
shareholder value by advancing the flagship Silver Sand Project and
the emerging Carangas discovery. I would also like to thank Mr.
Hawkins for his valuable input and contributions to the Board and
wish him much success in his future endeavors."
Ms. Tang said, "It is my pleasure to rejoin New
Pacific as a member of the board of directors. I am excited to see
the Company on its way to becoming a major player in the silver
mining industry through the acquisition and discovery of
the Silver Sand Project in Bolivia. I look forward to joining
the Board and contributing to the Company's future."
Mr. Salman noted, "I was fortunate to visit the Silver Sand
project in its early stages with Dr. Rui
Feng. There is an old adage that you find gold and silver
where the people have found it previously. I was intrigued by the
historical workings at the site and saw the potential for a new
silver discovery, which today has a become a large silver deposit.
I am excited and look forward to working with the New Pacific team
to maximize the value of the Company's properties in Bolivia."
Ms. Tang has over 20 years of experience in accounting with
focus on the mining industry. She has held a number of executive
and board leadership positions within this period. Ms. Tang is the
President, Chief Financial Officer and Director of HempNova
LifeTech Corp. She sits on the Board of Directors of Minco Silver
Corporation. Previously, Ms. Tang served as the Director of Finance
at Revery Architect until 2019 as well as the Chief Financial
Officer at Silvercorp Metals Inc. and the Chief Financial Officer
at New Pacific until 2015. Prior to that, Ms. Tang held positions
with Ernst & Yong LLP, where she focused on public company
audits of mining, pharmaceutical and
manufacturing companies. Ms. Tang holds a Bachelor of Science
degree from the Nankai University and the Chartered Accountancy and
the American Institute of Certified Public Accountant
designations.
Mr. Salman has over 35 years of experience in exploration and
mining finance. He is the President and Chief Executive Officer at
Salman Capital Inc. and Salman Partners Inc. At Salman Partners
Inc., he raised over $20 billion for
over 400 exploration and mining companies. Previously, Mr. Salman
held positions with Nesbitt Thomson, subsequently acquired by the
Bank of Montreal ("BMO"), where he
was an Executive Vice-President and a Director. Mr. Salman was
instrumental in forming the mining team at Nesbitt Thomson and its
mining conference in the early 1990's, which subsequently became
the BMO Mining and Metals Conference. He is the Chairman Emeritus
of the Vancouver Public Library Foundation. Formerly, he acted as
the Chairman of the Investment Dealers Association of Canada and a director or chairman of numerous
charities. Mr. Salman was the recipient of the 2016 Murray Pezim
Award in recognition of his career in Canadian mining finance and
was inducted to the Cambridge House Resource Hall of Fame in 2018.
He was appointed to the Order of Canada for his contributions to mining
exploration and for his generous philanthropy and community
activism. Mr. Salman is an Honorary Consul-General of the Republic
of Singapore and received the
Public Service Star from the Office of the President of
Singapore in 2021. He served with
the United States Marine Corps and
is a Vietnam veteran. Mr. Salman
received an MBA from the University of
Hartford.
AGM Voting Results
The Company is pleased to report that all matters submitted to
the shareholders for approval as set out in the Company's Notice of
Meeting and Information Circular, both dated October 28, 2021, were approved by the requisite
majority of votes cast at the AGM. A total of 120,967,893 common
shares, representing 77.80% of the votes attached to all
outstanding shares as at the record date for the meeting, were
represented at the AGM. The details of the voting results for the
election of directors are set out below:
|
Votes
For
|
Withheld
|
Director
|
Number
|
Percentage
|
Number
|
Percentage
|
Jack
Austin
|
108,926,898
|
99.56%
|
476,028
|
0.44%
|
Dr. Rui
Feng
|
108,320,963
|
99.01%
|
1,081,963
|
0.99%
|
David Kong
|
108,873,735
|
99.52%
|
529,191
|
0.48%
|
Martin
Wafforn
|
109,242,554
|
99.85%
|
160,372
|
0.15%
|
Dr. Mark
Cruise
|
109,256,013
|
99.87%
|
146,913
|
0.13%
|
Terry
Salman
|
109,245,259
|
99.86%
|
157,667
|
0.14%
|
Maria Tang
|
109,195,176
|
99.81%
|
207,750
|
0.19%
|
Shareholders also approved the re-appointment of Deloitte LLP as
auditors of the Company for the ensuing year. The final results for
all matters voted on at the AGM will be filed on SEDAR at
www.sedar.com and on the Company's website.
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 the
anticipated timing, amount and completion of exploration, drilling,
development, construction, and other activities or achievements of
the Company; the Phase II Drill Program and anticipated outcomes
therefrom; future economics of the Company's projects; timing of
receipt of permits and regulatory approvals; estimates of the
Company's revenues and capital expenditures; and other future
plans, objectives or expectations of the Company.
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 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 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.
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SOURCE New Pacific Metals Corp.