Tinka Resources closes their bought financing deal at CAD $8,059,200

   Tinka Resources Ltd.{TSX.V: TK}

Tinka has closed its previously announced bought deal financing, including the exercise in full of the underwriters’ overallotment option. A total of 16.79 million units of Tinka were sold at a price of 48 cents per unit, for aggregate gross proceeds of $8,059,200.

 

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Tinka Resources closes $8.05-million bought deal

2018-04-04 06:33 ET – News Release

Dr. Graham Carman reports

TINKA ANNOUNCES CLOSING OF BOUGHT DEAL FINANCING

 

 

Tinka Resources Ltd.{TSX.V: TK} has closed its previously announced bought deal financing, including the exercise in full of the underwriters’ overallotment option. A total of 16.79 million units of Tinka were sold at a price of 48 cents per unit, for aggregate gross proceeds of $8,059,200. Each unit consisted of one common share and one-half of one common share purchase warrant. Each warrant entitles the holder to acquire one common share of the company at a price of 75 cents at any time prior to April 4, 2019.

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The net proceeds from the offering will be used to finance exploration expenditures and related costs related to the phase 1 recommended work program at the company’s Ayawilca project in Peru, for further exploratory drilling at the Ayawilca project, as well as for general working capital and corporate purposes.

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The offering was completed through a syndicate of underwriters led by GMP Securities LP and including Canaccord Genuity Corp., Beacon Securities Ltd., CIBC World Markets Inc. and Industrial Alliance Securities Inc. The underwriters received a cash commission equal to 6 per cent of the gross proceeds of the offering.

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The offering was completed by way of a short-form prospectus which was filed in all the provinces of Canada, except Quebec.

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Concurrent with the offering, the company is undertaking a non-brokered private placement of up to 14 million units at the offering price for additional gross proceeds of up to $6.72-million to certain existing shareholders pursuant to the exercise of pre-emptive rights and certain Peruvian and other purchasers. The private placement is expected to close on or about April 6, 2018.