New York, April 19 - Tinka Resources Ltd. said it increased its private placement of units to C$1.257 million from C$900,000 in response to "overwhelming" interest from investors.
The company will now sell 4.19 million units at C$0.30 each, up from 3 million units originally.
Each unit is made up of one share and half a share purchase warrant. Whole warrants are exercisable for two years at C$0.40 in the first year and C$0.60 in the second.
The non-brokered deal was originally announced on April 6.
Proceeds will be used to fund exploration on the company's existing mineral properties in Peru, to make further property acquisitions and for general working capital.
Tinka is a Vancouver, B.C.-based resources company.
| Issuer: | Tinka Resources Ltd.
|
| Issue: | Units of stock and 0.5 warrants
|
| Amount: | C$1.26 million
|
| Units: | 4.19 million
|
| Price: | C$0.30
|
| Warrants: | 0.5 per unit
|
| Warrant expiration: | 2 years
|
| Warrant strike price: | C$0.40 in year one, C$0.60 in year two
|
| Announcement date: | April 6 (upsized April 19)
|
| Ticker: | TSX Venture: TK, Pink Sheets: TKRFF
|
| Stock price: | C$0.35 at close April 19
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
