Sentient IV acquires securities of Tinka Resources Ltd.
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES AND NOT FOR DISSEMINATION IN THE UNITED STATES/
MONTREAL, May 29, 2015 /CNW Telbec/ - Sentient Executive GP IV, Limited ("Sentient IV") announces that, in connection with a financing announced by Tinka Resources Ltd. ("Tinka"), it has acquired control over 9,302,326 units ("Units") of Tinka on May 29, 2015. Each Unit is comprised of one common share in the capital of Tinka (a "Tinka Share") and 0.375 of one 2.5 year common share purchase warrant of Tinka (each whole 2.5 year warrant, a "2.5 Year Tinka Warrant") and 0.375 of one 5 year common share purchase warrant of Tinka (each whole 5 year warrant, a "5 Year Tinka Warrant"). Each 2.5 Year Tinka Warrant entitles the holder thereof to acquire a Tinka Share at a price of $0.30 per share and is exercisable until November 29, 2017. Each 5 Year Tinka Warrant entitles the holder thereof to acquire a Tinka Share at a price of $0.45 per share and is exercisable until May 29, 2020. Each whole common share purchase warrant of Tinka is hereby referred to as a "Tinka Warrant". As such, Sentient IV has acquired control over 9,302,326 Tinka Shares and 6,976,744 Tinka Warrants.
Assuming the full exercise of the 6,976,744 Tinka Warrants, Sentient IV would acquire control over a maximum of 16,279,070 Tinka Shares (including the 9,302,326 Tinka Shares issued on May 29, 2015), representing approximately 10.38% of the outstanding Tinka Shares, calculated on a partially diluted basis assuming the full exercise of the 6,976,744 Tinka Warrants only.
Sentient IV has control or direction over 32,144,223 Tinka Shares (representing approximately 21.46% of the outstanding Tinka Shares), and the right to acquire 17,642,199 Tinka Shares through 17,642,199 Tinka Warrants.
Assuming the full exercise of the 17,642,199 Tinka Warrants, Sentient IV would acquire control over a maximum of 49,786,422 Tinka Shares (including the 32,144,223 Tinka Shares controlled by Sentient IV), representing approximately 29.73% of the outstanding Tinka Shares, calculated on a partially diluted basis assuming the full exercise of the 17,642,199 Tinka Warrants only.
Sentient IV acquired the Units for investment purposes only and not with a view to materially affecting control of Tinka.
SOURCE Sentient Executive GP IV, Limited
or to obtain a copy of the Early Warning Report filed by Sentient IV, please contact Sue Bjuro at (345) 946-0933
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