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Vancouver, Canada - Tinka Resources Limited (the “Company”), (TSXV: TK) (Frankfurt: TLD) (OTCPK: TKRFF), reports that Richardson GMP Limited (“Richardson GMP”) is acting as agent for the Company on a best efforts private placement basis for the sale of up to 2,000,000 units of the Company at a price of $0.50 per unit for gross proceeds of $1,000,000. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable to acquire one additional common share of the Company at a price of $0.75 per common share for a period of one year from the date of closing of the private placement financing. Richardson GMP will be paid a commission from the gross proceeds raised by them consisting of cash and agent warrants.
The net proceeds of the private placement financing will be used to advance exploration work on the Company’s Colquipucro and Ayawilca projects and for general working capital purposes.
The securities to be issued 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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Tinka Resources Limited (TSXV:TK) (Frankfurt:TLD) (Pinksheets:TKRFF):
Tinka is a junior resource acquisition and exploration company. Tinka’s main focus is on its 100% owned Col-quipucro and Ayawilca projects located in the highly mineralized silver-lead-zinc belt of Central Peru.
On behalf of the Board,
Andrew Carter, President & CEO
Mariana Bermudez at (604) 699 0202 or
Forward Looking Statements This Company news 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 available to the Company’s management as of the date of this news release. 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 including local communities and landholders, 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.