Nova Pacific Metals Announces Private Placement of Up to $2,000,000

Core Viewpoint - Nova Pacific Metals Corp. is initiating a non-brokered private placement to raise up to $2,000,000 for exploration and development purposes [1][4]. Group 1: Private Placement Details - The private placement will consist of up to 8,000,000 units priced at $0.25 per unit, each unit comprising one common share and one warrant [2]. - Each warrant allows the holder to purchase an additional share at an exercise price of $0.40 for a period of two years [2]. - An acceleration clause is included in the warrants, allowing the company to shorten the exercise period if shares trade at or above $0.90 for 10 consecutive trading days [3]. Group 2: Use of Proceeds - Proceeds from the private placement will be used for exploration, general corporate purposes, and working capital [4]. - All securities issued will be subject to a statutory hold period of four months and one day [4]. Group 3: Company Overview - Nova Pacific is focused on exploration and development of mineral projects, including the Lara VMS project in British Columbia and the Deer Musk West Lithium project in Nevada [6]. - The company aims to maximize shareholder value through continued exploration and development efforts [6]. Group 4: Additional Information - The company may pay finder's fees of up to 8% of the gross proceeds raised and may issue broker warrants equal to up to 8% of the units sold [5].