Business
Tinka Announces Oversubscription in Private Placement Financing
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About this update from Tinka Resources Limited
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE,\n PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN\n WHOLE OR IN PART, IN OR INTO THE UNITED STATES./\n\n\nVANCOUVER, May 9, 2013 /CNW/ - Tinka Resources Limited (the \"Company\"), (TSXV: TK) (Frankfurt: TLD)\n (OTCPK: TKRFF), reports that a private placement financing (the \"Financing\") announced\n by the Company on April 24, 2013, has been oversubscribed. The Company\n now proposes to issue up to 2,764,765 units at a price of $0.85 per\n unit (the \"Unit\") for gross proceeds of up to $2,350,050.  Each Unit\n consists of one common share and one-half of one share purchase\n warrant.  Each whole warrant will be exercisable at a price of $1.25\n per common share for a period of eighteen months from the date of\n closing of the private placement.\n\n\nRichardson GMP Limited is acting for the Company and will be paid a\n commission consisting of cash and warrants on a portion of the\n Financing.  The Company anticipates closing of the Financing by May 14,\n 2013.\n\n\nThe net proceeds of the private placement are expected to be used to\n advance exploration work on the Company's Colquipucro and Ayawilca\n projects and for general working capital purposes.\n\n\nThe securities issued under the private placement will be subject to a\n four-month hold period from the date of closing.  The closing of the\n private placement is subject to, among other things, acceptance from\n the TSX Venture Exchange.\n\n\nThis news release does not constitute an offer to sell or a solicitation\n of an offer to buy any of the securities in the United States. The\n securities have not been and will not be registered under the United\n States Securities Act of 1933, as amended (the \"U.S. Securities Act\")\n or any state securities laws and may not be offered or sold within the\n United States or to U.S. Persons unless registered under the U.S.\n Securities Act and applicable state securities laws or an exemption\n from such registration is available.\n\n\nAbout Tinka Resources Limited (TSXV:TK) (Frankfurt:TLD)\n (Pinksheets:TKRFF):\nTinka is a junior resource acquisition and exploration company.  Tinka's\n main focus is on its 100% owned Colquipucro and Ayawilca projects\n located in the highly mineralized silver-lead-zinc belt of ...