Visitors Now:
Total Visits:
Total Stories:
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Tinka Resources arranges C$10mln placement

Tuesday, October 11, 2016 12:17
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Tinka Resources Ltd (CVE:TK) has arranged a proposed private placement to raise up to 50mln common shares for gross proceeds of up to C$10mln, the company said on Tuesday.

GMP Securities LP has agreed to act as agent for the placement, on a best-efforts agency basis.

All shares to be issued will be subject to a four-month hold period under applicable securities laws in Canada.

The company plans to use the net proceeds from the offering to finance exploration expenditures at the company’s Ayawilca project in Peru, as well as for general working capital and corporate purposes.

Last week, the company said it was “very pleased” with the Ayawilca tests. Read more.

The offering is scheduled to close on or about Nov. 1.

The company has agreed to pay the agent a cash commission of 6% of the gross proceeds raised under the offering and issue broker warrants equal to 6% of the number of shares sold.

Each such broker warrant will entitle the agent to purchase one common share at the issue price for a period of 24 months following the closing of the offering. The agent will not be paid a commission or receive broker warrants in respect of any shares sold to certain investors and those purchasing under the company’s president’s list.

Story by ProactiveInvestors

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.