New Pacific Metals Confirms Final Take Up Figures for Shares of Tagish Lake Gold
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 7, 2010) - New Pacific Metals Corp. (TSX VENTURE:
NUX -
News; "NewPacific") announces that, pursuant to its recently expired take-overbid (the "Share Offer") for all of the outstanding common shares("Tagish Shares") and the offer to purchase all of the secured debt andthe unsecured debt of Tagish Lake Gold Corp. ("Tagish Lake"), NewPacific, in total, took up (or already owned) 114,101,236 Tagish Shares,representing approximately 79.8% of the issued and outstanding TagishShares. The final take up figures have varied slightly from NewPacific's news release of September 30, 2010 as there wereirregularities to a few deposited Notices of Guaranteed Delivery.
NewPacific has issued an aggregate of 15,252,657 New Pacific shares to theformer Tagish Lake shareholders who tendered to the Share Offer andelected to receive all or part of the consideration in common shares ofNew Pacific. New Pacific now has a total of 45,282,488 outstandingcommon shares, of which approximately 29.4% are held by former TagishLake shareholders.