VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 8, 2013) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
Tinka Resources Limited (the "Company") (TSX VENTURE:TK)(FRANKFURT:TLD)(PINKSHEETS:TKRFF) announces that further to the Company's news release of September 23, 2013, the Company has closed the first tranche (the "First Tranche") of its non-brokered private placement financing. Under the First Tranche, the Company issued 1,579,480 units for gross proceeds of $789,740. Each unit consists of one common share and one-half of one 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 until October 8, 2014. Closing of a second tranche is anticipated to take place shortly.
The net proceeds of the private placement will be used to advance exploration work on the Company's Colquipucro and Ayawilca projects and for general working capital purposes.
The Company has paid a finder a cash commission of 6% of certain proceeds and issued 1,500 finder warrants, each finder warrant having the same terms and conditions as the private placement warrants.
The securities issued are subject to a hold period expiring on February 9, 2014.
The Financing remains subject to final acceptance by 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 (TSX VENTURE:TK)(FRANKFURT:TLD)(PINKSHEETS:TKRFF): Tinka is a junior resource acquisition and exploration company. Tinka's main focus is on its 100% owned Colquipucro and Ayawilca projects located in the highly mineralized silver-lead-zinc belt of Central Peru.
On behalf of the Board,
Andrew Carter, President & CEO
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.