Proceeds of deal will be used for exploration, general working capital
By Devika Patel
Knoxville, Tenn., Sept. 23 - Tinka Resources Ltd. said it plans a C$2 million private placement of units.
The company will sell 4 million units of one common share and a half-share warrant at C$0.50 per unit.
Each whole warrant is exercisable at C$0.75 for one year. The strike price is a 50% premium to the Sept. 20 closing share price of C$0.50.
Proceeds will be used to advance exploration work on the company's Colquipucro and Ayawilca projects and for general working capital purposes.
Vancouver, B.C.-based Tinka is a resources company.
| Issuer: | Tinka Resources Ltd.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$2 million
|
| Units: | 4 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.75
|
| Pricing date: | Sept. 23
|
| Stock symbol: | TSX Venture: TK
|
| Stock price: | C$0.50 at close Sept. 20
|
| Market capitalization: | C$40.62 million
|
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