Nova Pacific Metals Corp. announced a non-brokered private placement of up to 8,000,000 units at a price of CAD 0.25 per unit for the gross proceeds of up to CAD 2,000,000 on August 22, 2024. Each Unit will include one common share of the Company and one warrant, with each Warrant allowing the holder to purchase an additional Share at an exercise price of CAD 0.40 for a period of two years.

In connection with the Private Placement, the Company may pay finder's fees to eligible non-related parties of up to 8% of the gross proceeds raised. Additionally, Nova Pacific may issue broker warrants equal to up to 8% of the Units sold. All securities issued in connection with this Private Placement are subject to a statutory hold period of four months and one day pursuant to applicable securities laws.