New Pacific Reports Financial Results For The Three Months Ended September 30, 2014
Press Release
VANCOUVER, BRITISH COLUMBIA – November 14, 2014: New Pacific Metals Corp. (“New Pacific” or the “Company”) today announced its unaudited condensed consolidated interim financial results for the three ended September 30, 2014.
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.newpacificmetals.com. All figures are expressed in Canadian Dollars (CAD) unless otherwise stated.
FIRST QUARTER FINANCIAL HIGHLIGHTS
For the three months ended September 30, 2014, the Company reported net income attributable to equity holders of $604,551 or $0.01 per share compared to net loss of $890,410 or $0.01 per share in the same prior year period.
Excluding effects from foreign exchange and other non-cash expenses, the Company recorded cash expenses of $282,768 in the three months ended September 30, 2014 compared to $400,043 in the same prior year period.
As at September 30, 2014, the Company had $22.1 million in cash and cash equivalents and short term investments.
Change of Senior Management
The Company announced that Ms. Maria Tang, the Company’s Chief Financial Officer since 2008, will be resigning for personal reasons as of February 2015. The Company wishes to thanks Ms. Tang for her contributions to the Company during her years of service with the Company. The Company is commencing a search for a replacement CFO.
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.
For further information, contact:
New Pacific Metals Corp.,
Investor Relations
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificmetals.com
www.newpacificmetals.com
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