New Pacific Reports 2016 Annual General Meeting Results

VANCOUVER, British Columbia - November 30, 2016 - New Pacific Holdings Corp. (“New Pacific” or 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 17, 2016, were approved by the requisite majority of votes cast at the annual general meeting of the shareholders held on November 29, 2016 (the “AGM”).

The details of the voting results for the election of directors are set out below:

  Votes For Withheld Votes
Director # % # %
Rui Feng 32,447,011 99.95 16,817 0.05
Jack Austin 32,447,013 99.94 16,815 0.05
David Kong 32,447,013 99.94 16,815 0.05
Greg Hawkins 32,447,011 99.94 16,817 0.05
Fengzeng Yan 32,447,013 99.94 16,815 0.05

Shareholders, at the AGM, approved 88.68% in favour of approving the amended stock option plan. Shareholders also approved the re-appointment of Deloitte LLP as auditors of the Company for the ensuing year at the remuneration to be fixed by the directors. 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 Investment Issuer engaged in investing in privately held and publicly traded corporations.

For further information, contact:

New Pacific Holdings Corp.,
Rodney Stevens
Vice-President, Corporate Development
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificholdings.ca
www.newpacificholdings.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

New Pacific Reports Financial Results For The Three Months Ended September 30, 2016

VANCOUVER, BRITISH COLUMBIA - November  14, 2016: New Pacific Holdings Corp. (“New Pacific” or the “Company”) today announced its unaudited condensed consolidated interim financial results for the three months ended September 30, 2016. 

This earnings release should be read in conjunction with the Company's Management Discussion & Analysis, Financial Statements and Notes to Financial Statements for the corresponding period, which have been posted on SEDAR at www.sedar.com and are also available on the Company's website at www.newpacificholdings.ca.  All figures are expressed in Canadian Dollars (CAD) unless otherwise stated.

Q1 Fiscal 2017 Highlights

  • Net income attributable to equity holders of $3.58 million, or $0.05 per share, compared to net income attributable to equity holders of $1.39 million or $0.02 per share in Q1 Fiscal 2016;
  • Bonds portfolio continued to perform well, fair value gain and interest earned combined were $458,766 for the quarter, representing an annualized return of 10.82%;
  • Successfully acquired equity investments from open markets and private placements.  Unrealized gain on equity investments during the quarter was $3.22 million.

Fiscal 2017 Q1 vs. Fiscal 2016 Q1

For the three months ended September 30, 2016 (“Fiscal 2017 Q1”), net income attributable to equity holders was $3,528,268 or $0.05 per share compared to net income of $1,386,059 or $0.02 per share for three months ended September 30, 2015.(“Fiscal 2016 Q1”).

In Q1 2017, the Company’s financial results were significantly improved as a result of the transition in the company’s business to an investment issuer. Major items impacking financial performance are as follows:

Income from investments for the three months ended September 30, 2016 was $3,682,428, an increase of 4,251%, compared to $84,626 for three months ended September 30, 2015.  This significant increase was a direct result of the Company’s business change from exploration and development on mineral properties to investing in publicly-traded or privately-held corporations and other marketable instruments such as bonds.  Within the investments income, $3,220,712 was an unrealized gain on the Company’s equity investments and $458,766 was from fair value change and interest earned on bonds.

Operating expenses for the three months ended September 30, 2016 was $253,360, a decrease of 14%, compared to $294,321 for the three months ended September 30, 2015. 

Foreign exchange gain for the three months ended September 30, 2016 was $149,066, a decrease of 91%, compared to $1,576,158 in the same prior year period. The Company holds a large portion of cash and cash equivalents and bonds in US dollars while the Company’s functional currency is Canadian dollar, the fluctuation in exchange rates between the US dollar and Canadian dollar will impact the financial results of the Company.  During the three months ended September 30, 2016, the US dollar appreciated by 0.8% against Canadian dollar (from 1.3009 to 1.3117) while in the same prior year period the US dollar appreciated by 7.4% against Canadian dollar (from 1.2474 to 1.3394).  The slowdown of US dollar appreciation against Canadian dollar in the relative periods was the reason of the reduced amount of foreign exchange gains. 

As at September 30, 2016, the Company had working capital of $19,020,192 (June 30, 2016 - $21,816,903), comprised of cash and cash equivalents of $2,010,248 (June 30, 2015 - $5,267,066), bonds of $17,684,145 (June 30, 2016 -$17,201,630) and other current assets of $130,910 (June 30, 2016 - $138,547) offset by current liabilities of $805,111 (June 30, 2016 - $790,340).  Management believes that the Company has sufficient funds to support its normal investing and operating requirement on an ongoing basis.

ABOUT NEW PACIFIC

New Pacific is a Canadian Investment Issuer engaged in investing in privately held and publicly traded corporations.

For further information, contact:

New Pacific Holdings Corp.,
Rodney Stevens
VP of Development
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificholdings.ca
www.newpacificholdings.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

Certain of the statements and information in this press release constitute “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.

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: fluctuating equity prices, bond prices, commodity prices; calculation of resources, reserves and mineralization, foreign exchange risks, interest rate risk, foreign investment risk loss of key personnel; conflicts of interest; dependence on management and others. 

This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information. Forward-looking statements or information are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements or information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company’s Annual Information Form for the year ended June 30, 2016 under the heading “Risk Factors”. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. 

The Company’s forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.

New Pacific Grants Stock Options

VANCOUVER, BRITISH COLUMBIA – November 2, 2016: New Pacific Holdings Corp. (“New Pacific” or the “Company”) today announced that subject to regulatory approval it has granted an aggregate of 2,010,000 incentive stock options to employees, consultants and directors of the Company, including 1,400,000 to insiders. The stock options are exercisable at $0.55 for a period of five years, with one sixth vesting every six months over a 36 month vesting period.  The grant is also subject to shareholder approval of the amend stockoption plan at the Company’s annual shareholder meeting.

ABOUT NEW PACIFIC

New Pacific is a Canadian Investment Issuer engaged in investing in privately held and publicly traded corporations.

For further information, contact:

New Pacific Holdings Corp.,
Rodney Stevens
Vice-President, Corporate Development
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificholdings.ca
www.newpacificholdings.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

New Pacific Appoints Vice-President, Corporate Development

VANCOUVER, BRITISH COLUMBIA – September 30, 2016: New Pacific Holdings Corp. (“New Pacific” or the “Company”) today announced the appointment of Rodney Stevens as Vice-President, Corporate Development. 

Mr. Stevens is a CFA charter holder with over ten years of work experience as an investment analyst, portfolio manager and merchant banker.  While at Salman Partners Inc., Mr. Stevens became a top-rated analyst by StarMine for the metals and mining industry based on the historical profitability of stock recommendations and the historical accuracy of earnings estimates, generating an excess return of 7.9 percent over the corresponding industry benchmark and receiving a four-out-of-five star rating for earnings accuracy.  As a merchant banker, Mr. Stevens was instrumental in assisting in financings and M&A activity worth over $1 billion in transaction value.

In his role as Vice-President Corporate Development at New Pacific, Mr. Stevens will primarily be responsible for identifying investment opportunities and participating in the investment and risk control decision making process.

ABOUT NEW PACIFIC

New Pacific is a Canadian Investment Issuer engaged in investing in privately held and publicly traded corporations.

For further information, contact:

New Pacific Holdings Corp.,
Rodney Stevens
Vice-President, Corporate Development
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificholdings.ca
www.newpacificholdings.ca

New Pacific Reports Financial Results For The Year Ended June 30, 2016

VANCOUVER, BRITISH COLUMBIA – September 15, 2016: New Pacific Holdings Corp. (“New Pacific” or the “Company”) today announced its audited consolidated financial results for the year ended June 30, 2016. 

This earnings release should be read in conjunction with the Company's Management Discussion & Analysis, Financial Statements and Notes to Financial Statements for the corresponding period, which have been posted on SEDAR at www.sedar.com and are also available on the Company's website at www.newpacificholdings.ca.  All figures are expressed in Canadian Dollars (CAD) unless otherwise stated.

FISCAL YEAR 2016 HIGHLIGHTS

  • Successfully changed the Company from a mining issuer to an investment issuer;
  • Moved listing from TSX to TSX Venture;  and
  • Adjusted net income attributable to equity holders of $3.04 million, or $0.05 per share, compared to adjusted net income attributable to equity holders of $1.92 million, or $0.03 per share in the prior year.

FISCAL 2016 vs. FISCAL 2015

For the year ended June 30, 2016 (“Fiscal 2016”), net loss attributable to equity holders was $118,167 or $0.00 per share compared to net income of $1,739,248 or $0.03 per share for the year ended June 30, 2015 (“Fiscal 2015”).  Excluding non-cash impairment loss of mineral property interests, adjusted net income attributable to equity holders was $3,039,114 or $0.05 per share in Fiscal 2016 compared to $1,915,149 or $0.03 per share in Fiscal 2015.

In Fiscal 2016, the Company’s financial results were significantly improved as a result of the transition in the company’s business away from mining.  Major items impacting financial performance are as follows:

  1. Income from investments in Fiscal 2016 was $3,098,622, an increase of 1,431%, compared to $202,375 in Fiscal 2015.  This increase was a direct result of the Company’s business transition from exploration and development on mineral properties to investing in publicly-traded or privately-held corporations and other marketable instruments such as bonds.  Within the investments income, $2,498,453 was unrealized gain on the Company’s investment in Silvercorp Metals Inc. (TSX: SVM) shares and $577,538 was from fair value change and interest earned on bonds.

  2. Operating expenses in Fiscal 2016 was $1,029,722, a decrease of 30%, compared to $1,466,422 in Fiscal 2015.  The noticeable decrease in operating expense was also a result of the Company’s business transition.  The reduced care and maintenance activities at the mine sites had a big impact on reducing operating expenses as certain senior management positions had their salaries reduced and mine site employees were laid off. 

  3. Foreign exchange gain in Fiscal 2016 was $864,648, down 72%, compared to $3,129,372 in Fiscal 2015.  The Company holds a large portion of cash and cash equivalents and bonds in US dollars while the Company’s functional currency is Canadian dollar, the fluctuation in exchange rates between the US dollar and Canadian dollar will impact the financial results of the Company.  In Fiscal 2016, US dollar appreciated by 4.3% against Canadian dollar (from 1.2474 to 1.3009) while in Fiscal 2015 US dollar appreciated by 14.4% against Canadian dollar (from 1.0676 to 1.2474).  The slowdown of US dollar appreciation against Canadian dollar in Fiscal 2016 was the reason of the lower amount of foreign exchange gains.

As at June 30, 2016, the Company had working capital of $21,816,903 (June 30, 2015 - $22,364,687), comprised of cash and cash equivalents of $5,267,066 (June 30, 2015 - $14,851,828), bonds of $17,201,630 (June 30, 2015 -$8,826,997) and other current assets of $138,547 (June 30, 2015 - $129,260) offset by current liabilities of $790,340 (June 30, 2015 - $1,443,398).  Management believes that the Company has sufficient funds to support its normal investing and operating requirement on an ongoing basis.

FOURTH QUARTER FINANCIAL SUMMARY

For the quarter ended June 30, 2016, the Company reported net loss attributable to equity holders of $1.76 million or $0.03 per share, compared to net loss of $0.8 million or $0.01 per share in the same prior year period.  Excluding the non-cash impairment loss on mineral property interests, adjusted net income attributable to equity holders for Q4 Fiscal 2016 was $1.4 million or $0.02 per share compared to adjusted net loss of $0.6 million or $0.01 per share for Q4 Fiscal 2015.  

Investment income in Q4 Fiscal 2016 consists of $1.24 million unrealized gain on equity investments and $0.28 million from fair value change and interest earned on bonds.

ABOUT NEW PACIFIC

New Pacific is a Canadian Investment Issuer engaged in investing in privately held and publicly traded corporations.

For further information, contact:

New Pacific Holdings Corp.,
Jalen Yuan
Chief Financial Officer
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificholdings.ca
www.newpacificholdings.ca

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

Certain of the statements and information in this press release constitute “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. 

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: fluctuating equity prices, bond prices, commodity prices; calculation of resources, reserves and mineralization, foreign exchange risks, interest rate risk, foreign investment risk loss of key personnel; conflicts of interest; dependence on management and others.

This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information. Forward-looking statements or information are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements or information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company’s Annual Information Form for the year ended June 30, 2016 under the heading “Risk Factors”. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

The Company’s forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.

Early Warning News Release: - New Pacific Acquires A 12.4% Stake In Aton Resources Inc.

VANCOUVER, BRITISH COLUMBIA – August 8, 2016: New Pacific Holdings Corp. (“New Pacific” or the “Company”) announces that pursuant to the closing of a non-brokered private placement of Aton Resources Inc. on August 8, 2016, New Pacific has acquired ownership and control of 14,000,000 common shares in the capital of Aton Resources Inc. at a price of $0.05 per common share for an aggregate consideration of $700,000.

New Pacific owns or exercises control or direction of 14,000,000 common shares, representing approximately 12.40% of the issued and outstanding common shares in the capital of Aton Resources Inc. The common shares were acquired for investment purposes and New Pacific may, in the future increase or decrease its ownership of, or control over, securities of Aton Resources Inc. depending on market conditions, the business and prospects of Aton Resources Corp. or other factors.

The news release is being issued as required by National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. An early warning report will be filed on SEDAR and will be available for review at www.sedar.comunder Aton Resources Inc. SEDAR profile. A copy of the early warning report can be obtained from the contact below.

ABOUT NEW PACIFIC

New Pacific is a Canadian Investment Issuer engaged in investing in privately held and publicly traded corporations. 

New Pacific Holdings Corp.,
Investor Relations
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificholdings.ca
www.newpacificholdings.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

New Pacific Applies To List On Tsx Venture Exchange As Investment Issuer And Voluntarily Delist From The Toronto Stock Exchange

VANCOUVER, BRITISH COLUMBIA – June 13, 2016: New Pacific Metals Corp. (“New Pacific” or the “Company”) announces that it has applied to voluntarily delist its common shares (the “Common Shares”) from the Toronto Stock Exchange (the "TSX") and has received conditional approval to list the Common Shares on the TSX Venture Exchange (the “TSX-V”).  It is expected that the Common Shares will be delisted from the TSX on or about June 30, 2016, and listed on the TSX-V on or about the same date. 

At the Annual General and Special Meeting of the shareholders held on November 13, 2015, the shareholders of the Company passed as a special resolution authorizing and approving a change of the Company’s business from a mining issuer engaged in mineral exploration to an investment issuer engaged in investing in privately held and publicly traded corporations, and authorized a change of name (the “2015 AGM”).  The changes were subject to board of director approval, and any necessary regulatory approvals. 

As the Company’s asset base is not sufficiently large to qualify as an Investment Issuer on the TSX the Company has applied for, and received, conditional approval to be listed as a Tier 2 Investment Issuer on the TSX-V.  As such, effective on the date of the listing on the TSX-V the Company’s change of business, approved by the shareholders at the 2015 AGM, will become effective.

PLANNED CHANGE OF NAME

Following the Company’s delisting from the TSX, the Company will have a change of business, from a mining issuer to an investment issuer.  To reflect this change the Company will change its name to New Pacific Holdings Corp.  It is expected that the ticker symbol will remain unchanged.  The change will take effect at the time of listing on the TSX-V.

ABOUT NEW PACIFIC

New Pacific is a Canadian gold and silver exploration and development company which owns the Tagish Lake gold project in Yukon, Canada and the RZY Project in Qinghai Province, China.   It expects to effect a change of business to become an investment issuer effective July 1, 2016.  For further information, contact:

New Pacific Metals Corp.,
Investor Relations
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificmetals.com
www.newpacificmetals.com