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
|
© 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.