On November 15, 2016, Tinka Resources Limited (“Tinka” or the “Company”) announced that it had closed the second and final tranche of their previously announced private placement financing (the “Second Tranche”). The Company issued 10,326,750 common shares of the Company (“Shares”) at an issue price of C$0.20 per share (the “Issue Price”) for gross proceeds of C$2,065,350. The first tranche of the Offering closed on November 7, 2016, for gross proceeds to the Company of C$8,934,650 (the “First Tranche”). The financing was led by GMP Securities LP.
In aggregate, the First Tranche and Second Tranche comprise of 55,000,000 Shares for a total gross proceeds of C$11 million.
Tinka Resources is an exploration and development company with its flagship property being the 100%-owned Ayawilca carbonate replacement deposit (CRD) in the zin-lead-silver belt of central Peru, 200 kilometres northeast of Lima.
Further details regarding the private placement can be found on Tinka Resources’ website. Tinka Resources trades under the symbol “TK” on Tier 2 of the TSX Venture Exchange.