Tinka Resources closes C$18.5 million private placement
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The company issued 65,843,620 common shares to Compañia de Minas Buenaventura SAA at C$0.243 per common share for gross proceeds of C$16 million. Buenaventura has become a new insider of Tinka holding approximately 19.3% of the outstanding common shares of the company on a non-diluted basis.
Sentient Global Resources Fund exercised additional rights resulting in an additional $2.5 million.
Funds will be used for the development of the company’s Ayawilca Project, located in a zinc-lead-silver belt in central Peru.