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 Venture Exchange.
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
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