Nova Pacific Metals Closes Flow-Through Financing of $2,640,540

Core Viewpoint - Nova Pacific Metals Corp. has successfully closed a non-brokered private placement, raising over $2.6 million for its 2025 exploration program, which will fund a drill campaign for the Lara project [1][2]. Financing Details - The company issued a total of 6,287,000 flow-through common shares at a price of $0.42 per share, resulting in gross proceeds of $2,640,540 [1][2]. - The proceeds will be used for eligible Canadian exploration expenses on the Lara Property, with expectations to incur such expenses by December 31, 2025, and to renounce them to purchasers by December 31, 2024 [2]. Securities and Fees - All securities issued are subject to a statutory hold period of four months and one day from the date of issuance [3]. - The company paid cash fees of $184,837.80 and issued 440,090 warrants to a qualified finder, with each warrant exercisable into one common share at a price of $0.42 for 24 months [3]. Indigenous Communities Engagement - Nova Pacific acknowledges the rights of Indigenous Peoples in Canada and is committed to consultation with the Hul'qumi'num Treaty Group communities regarding the Lara Property [5]. Company Overview - Nova Pacific is focused on the Lara Volcanogenic Massive Sulfide Project in British Columbia, which has a significant historic resource of critical and precious metals [6]. - The company's strategy includes confirmation and infill drilling, an updated mineral resource estimate, and potential preparation of a Pre-Feasibility Study [6].