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
Limited () 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.
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.
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