Business
Tinka Closes Private Placement Financing
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION ...
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 14, 2013 /CNW/ - Tinka Resources Limited (the \"Company\"), (TSXV: TK) (Frankfurt: TLD)\n (OTCPK: TKRFF), announces the closing of a private placement financing (the \"Financing\")\n announced by the Company on April 24, 2013 and May 9, 2013. The Company\n has raised gross proceeds of $2,575,725 through the issuance of\n 3,030,265 units at $0.85 per unit (the \"Units\").  Each Unit consists of\n one common share and one-half of one share purchase warrant (each whole\n warrant a \"Warrant\").  Each Warrant entitles the holder to purchase one\n common share at a price of $1.25 per common share for a period of\n eighteen months.\n\n\nAll securities issued under the Financing are subject to a four-month\n hold period that expires on September 15, 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\nRichardson GMP Limited (\"RGMP\") acted as agent on a portion of the\n Financing placing 1,947,500 Units.  In consideration for RGMP's\n services, the Company paid a cash fee of $165,538 and issued 194,750\n compensation warrants. Each compensation warrant entitles the holder to\n purchase one Unit of the Company under the same terms as the Financing\n Units.  In addition, the Company has paid a finder a cash commission of\n 6% of certain proceeds and issued 7,500 finder warrants, each finder\n warrant having the same terms and conditions as the Financing Warrants.\n\n\nThe Financing remains subject to final acceptance by the TSX Venture\n 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 su...