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WASHINGTON, Nov. 29, 2017 /CNW/ - IFC, a member of the World Bank Group, announced today it exercised 7,848,837 warrants to acquire ownership and control over 7,848,837 common shares of Tinka Resources Limited (Tinka) at an average price of $0.30 per share for an aggregate consideration of $2,354,651.10.
IFC previously held 18,096,917 Common Shares representing approximately 8.4% of Tinka's total issued and outstanding common shares or 14.5%, assuming the exercise of all of IFC's 15,697,674 warrants.
Following the above exercise of warrants, IFC holds 25,945,754 Common Shares representing approximately 11.6% of the outstanding Common Shares, or 14.5% assuming the exercise of the IFC's remaining unexercised warrants.
IFC exercised the above noted warrants as part of its regular portfolio management. It will maintain its remaining holdings in Tinka for investment purposes and may, in the future, take such actions in respect of its holdings as it deems appropriate in light of the circumstances then existing.
Tinka's head office is located at 1305 – 1090 West Georgia Street, Vancouver, B.C. V6E 3V7. Its shares trade on the TSX Venture Exchange.
IFC, 2121 Pennsylvania Avenue, N.W., Washington, D.C. 20433, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with 2,000 businesses worldwide, we use our six decades of experience to create opportunity where it's needed most. In FY16, our long-term investments in developing countries rose to nearly $19 billion, leveraging our capital, expertise and influence to help the private sector end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org.
A copy of IFC's early warning report required to be filed in connection with the acquisition of common shares of Tinka will appear on Tinka's profile on SEDAR at www.sedar.com and may also be obtained by contacting Carla Monteiro, Securities Law Clerk, Norton Rose Fulbright Canada LLP, at (416) 216-4040.
SOURCE International Finance Corporation
For further information: Carla Monteiro, Securities Law Clerk, Norton Rose Fulbright Canada LLP, at (416) 216-4040