Tinka Announces Non-Brokered Private Placement Financing
TSXV - TK; Frankfurt - TLD; Pinksheets - TKRFF
VANCOUVER, Dec. 11, 2012 /CNW/ - Tinka Resources Limited (the "Company"), (TSXV: TK) (Frankfurt: TLD) (OTCPK: TKRFF), announces that further to a price reservation originally filed with the TSX Venture Exchange filed on December 4, 2012, the Company will undertake a private placement financing of up to 3,000,000 units at a price of $0.75 per unit (the "Unit") for gross proceeds of up to $2,250,000. Each Unit consists of one common share and one-half of one share purchase warrant. Each whole Warrant will be exercisable at a price of $1.00 per common share for a period of one year from the date of closing of the private placement.
The securities issued under the private placement will be subject to a four-month hold period from the date of closing. The closing of the private placement is subject to, among other things, final acceptance from the TSX Venture Exchange.
The net proceeds of the private placement are expected to be used to advance exploration work on the Company's Colquipucro project and for general working capital purposes.
A finder's fee consisting of cash and warrants will be payable on a portion of the private placement.
On behalf of the Board,
Andrew Carter, President & CEO
Forward Looking Statements This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.
Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the Frankfurt Stock Exchange accepts responsibility for the adequacy or accuracy of this news release.
SOURCE: Tinka Resources LimitedFor further information:
Mariana Bermudez at (604) 699 0202 or email: firstname.lastname@example.org
Investor Information Contact:
Bay Street Connect