logo-loader
viewTinka Resources Limited

Tinka Resources signs subscription agreements for second tranche of placement

IFC has agreed to acquire 3.95mln units, raising C$1.9mln for the company while Sentient Global Resources Fund IV has agreed to acquire 1.1mln units, raising C$513,600 for Tinka

Canadian dollars
In aggregate, Tinka will raise gross proceeds of C$16,239,496

Tinka Resources Limited (CVE:TK) has entered into subscription agreements with the International Finance Corporation (IFC), and Sentient Global Resources Fund IV.

The agreements are in connection with the second tranche of Tinka's previously announced non-brokered private placement financing of units of the company.

READ: Tinka Resources set to raise C$2.4mln in oversubscribed second tranche of placing​

The Second Tranche was necessary to accommodate the IFC and Sentient IV exercising their pre-emptive rights as a result of the company's public offering of units that closed on April 4, 2018 and the first tranche of the placement that closed on April 6, 2018.

In aggregate, the bought deal, first tranche and second tranche comprise a total of 33.8mln units for gross proceeds of C$16.24mln.

The company plans to use the net proceeds from the second tranche of the placement to fund exploration expenditures at the company's Ayawilca project in Peru, as well as for other corporate purposes and general working capital.

Quick facts: Tinka Resources Limited

Price: 0.15 CAD

TSX-V:TK
Market: TSX-V
Market Cap: $39.69 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Tinka Resources Limited named herein, including the promotion by the Company of Tinka Resources Limited in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Tinka Resources releases positive PEA for Ayawilca Zinc Project

Tinka Resources Limited (CVE:TK) chief executive officer Graham Carman updates Proactive Investors on positive results from the Preliminary Economic Assessment for its Ayawilca Zinc Zone project in central Peru. Carman says the company was very pleased with the long-awaited results based...

on 3/7/19

2 min read