New Pacific (New Pacific or the Company) (NUX) today provided an update on its plans to acquire 100% of a private Bolivian mining company.The Company on April 10, 2017 announced it had signed a binding share purchase agreement dated March 28, 2017 (the Agreement) to acquire a 100% interest in Empresa Minera Alcira, (Alcira).
As per the Agreement, the Company has been actively carrying out a confirmation drilling program in Bolivia to twin three drill holes drilled by Alcira in the past on its Silver Sand property. Assay results from the confirmation drilling program are still pending.
The Company has set a new date of June 30, 2017 as the date for a Special Shareholders meeting at which shareholders will be asked to approve:
(i) a change of the Company’s business from an investment issuer engaged in investing in privately held and publicly traded corporations to a mining issuer engaged in mineral exploration through the acquisition of Alcira
(ii) a change of name of the Company from New Pacific Holdings Corp. back to New Pacific Metals Corp.
A Management Information Circular has been mailed to shareholders this week.