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Tinka announces closing of the final tranche of its upsized brokered private placement raising an aggregate of C$11 million
Tinka announces closing of the final tranche of its upsized brokered private placement rai...
About this update from Tinka Resources Limited
[{"type":"text","content":"\n\n\n\nTinka announces closing of the final tranche of its upsized brokered private placement raising an aggregate of C$11 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\nTinka announces closing of the final tranche of its upsized brokered private placement raising an aggregate of C$11 million\nCanada NewsWire\nVANCOUVER, Nov. 15, 2016\n\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES/\n\n\n\nVANCOUVER, Nov. 15, 2016 /CNW/ - Tinka Resources Limited (\"Tinka\" or the \"Company\") (TSXV: TK) (OTCPK: TKRFF) is pleased to announce that it has closed the second and final tranche (the \"Second Tranche\") of the previously announced private placement offering of common shares of the Company (the \"Shares\") which was upsized for gross proceeds of C$11 million (the \"Offering\").  Under the Second Tranche, the Company issued 10,326,750 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 $8,934,650 (the \"First Tranche\").\n\nTwo insiders of the Company participated in the Second Tranche in connection with the exercise of pre-existing participation rights.  International Finance Corporation (\"IFC\"), a member of the World Bank Group, purchased 7,750,000 Shares at the Issue Price for gross proceeds of $1,550,000.  IFC now has control over an aggregate of 28,680,232 common shares of Tinka or approximately 14.0% of the issued and outstanding common shares of Tinka, and 20.1% assuming the exercise of all of IFC's 15,697,674 warrants.  \n\nSentient Global Resources Fund IV, LP (\"Sentient IV\"), who also participated in the First Tranche, purchased an additional 2,576,750 Shares under the Second Tranche for gross proceeds of C$515,350, resulting in Sentient IV owning an aggregate of 45,867,893 common shares of the Com...