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Tinka Resources Completes $16.2 Million Equity Financing

Maxis Law (formerly Axium Law) represented Tinka Resources with a team that included Michael Varabioff, Helen Racic and Abdullah Abunafeesa

On March 13, 2018, Tinka Resources Limited (“Tinka” or the “Company”) announced that it had entered into an agreement with a syndicate of underwriters led by GMP Securities L.P. (the “Underwriters”) pursuant to which the Underwriters would purchase, on a bought deal basis, 14,600,000 units (the “Units”) of the Company at a price of C$0.48 per Unit (the “Offering Price”) for an aggregate gross proceeds to the Company of C$7,008,000. Tinka additionally agreed to grant the Underwriters an over-allotment option to purchase up to an additional 2,190,000 Units at the Offering Price.

On April 4, 2018, Tinka announced that it had closed the bought deal financing, including the full exercise of the Underwriters’ over-allotment option. A total of 16,790,000 Units were sold at the Offering Price for a gross proceeds of C$8,059,200. The purchase price comprised of one (1) common share and one-half (0.5) of a common share purchase warrant. Each warrant entitles the holder to acquire one common share of the Company at a price of C$0.75 at any time prior to April 6, 2019.

Concurrent with the bought deal financing, Tinka undertook a two tranche non-brokered private placement, which closed on April 27, 2019. Under the First Tranche and Second Tranche, the Company issued Units at the Offering Price. Each Unit was comprised of the same components as in the Bought Deal. Under the private placement the Company issued an additional 17,042,284 Units at the Offering Price for a total gross proceeds of C$8,180,296.

In aggregate, the Bought Deal, First Tranche and Second Tranche consisted of 33,832,284 Units for gross proceeds of C$16,239,496.

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 bought deal and private placement can be found on Tinka Resources’ website. Tinka Resources trades under the symbol “TK” on Tier 2 of the TSX Venture Exchange.