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Tinka announces closing of first tranche of private placement for C$5.77 million
Tinka announces closing of first tranche of private placement for C$5.77 million C...
About this update from Tinka Resources Limited
[{"type":"text","content":"\n\n\n\nTinka announces closing of first tranche of private placement for C$5.77 million\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, April 9, 2018\n\n\n\n/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n\n\n\nVANCOUVER, April 9, 2018 /CNW/ - Tinka Resources Limited (\"Tinka\" or the \"Company\") (TSXV & BVL: TK) (OTCPK: TKRFF) is pleased to announce that it has closed the first tranche (the \"First Tranche\") of the previously announced non-brokered private placement financing (the \"Placement\") of units of the Company (the \"Units\"). Under the First Tranche, the Company issued 12,022,284 Units at an issue price of C$0.48 per Unit (the \"Issue Price\"), for aggregate gross proceeds of C$5,770,696.  Each Unit consisted of one (1) common share (a \"Common Share\") and one-half (0.5) of a common share purchase warrant (each whole common share purchase warrant a \"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.  The Issue Price for Units in the Placement is the same as for the Company's bought deal financing which closed on April 4, 2018, and raised gross proceeds of C$8,059,200.  \n\n\n \n \n\n \nThe Company plans to use the net proceeds from 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. \n\nDr. Graham Carman, President and CEO of Tinka states: \"We are pleased to close the first tranche of the private placement financing. I wish to thank Sentient Equity Partners for their continued support of the Company, along with several other existing shareholders, and those that have participated in the president's list. I would also like to welcome several Peruvian investors to the Tinka shareholder register for the first time.\"  \n\n\"The funds raised are anti...