VANCOUVER, Dec. 21, 2012 /CNW/ - Tinka Resources Limited (the "Company"), (TSXV: TK) (Frankfurt: TLD)
(OTCPK: TKRFF), announces that further to the Company's news releases of December 11,
and 17, 2012, the Company has closed its financing and has raised gross
proceeds of $2,250,000 through the issuance of 3,000,000 units at $0.75
per unit. Each unit consists of one common share and one-half of one
common share purchase warrant. Each whole warrant entitles the holder
to purchase one common share of the Company at an exercise price of
$1.00 per common share for a period of one year.
All securities issued under the private placement are subject to a
four-month hold period that expires on April 22, 2013.
The net proceeds from the private placement will be used to advance
exploration work at the Company's Colquipucro project and for general
working capital purposes.
The Company has paid Richardson GMP Limited a cash fee of $146,850 and
has issued 235,000 compensation warrants in respect of this financing.
Each compensation warrant entitles the holder to purchase one unit of
the Company under the same terms as the private placement units.
The private placement remains subject to final acceptance by the TSX
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 Limited
For further information:
Mariana Bermudez at (604) 699 0202 or email: email@example.com
Investor Information Contact:
Bay Street Connect