On December 17, 2024, Tinka Resources Limited closed the transaction. The company has issued 17,392,958 units at a price of CAD 0.10 per unit for gross proceeds of CAD 1,739,296. Nexa Resources S.A., an Insider and a major shareholder of the Company, increased its ownership interest in the Company and subscribed for 9,859,155 Units for gross proceeds to Tinka of CAD 985,915.
Prior to the Offering, Nexa held 71,343,053 common shares of Tinka or 18.2% of the issued and outstanding shares. Pursuant to the closing of the First Tranche, Nexa now holds 81,202,208 common shares or 19.9% of the issued and outstanding shares and warrants entitling Nexa to acquire 4,929,577 additional common shares of the Company. Compañia de Minas Buenaventura SAA (?Buenaventura?), an Insider and a major shareholder of the Company, increased its ownership interest in the Company and subscribed for 5,633,803 Units in the Offering for gross proceeds to Tinka of CAD 563,380.
Prior to the Offering, Buenaventura held 75,614,289 common shares of Tinka or approximately 19.3% of the outstanding common shares of the Company on a non-diluted basis. Pursuant to the closing of the First Tranche, Buenaventura now holds 81,248,092 common shares or 19.9% of the issued and outstanding shares and warrants entitling Buenaventura to acquire 2,816,901 additional common shares of the Company. The Company will not proceed with additional closings of its previously announced non-brokered private placement.
Graham Carman, Pieter Britz, Raul Benavides, Mary Little, Nick DeMare and Benedict McKeown each participated in the Offering and purchased an aggregate of 1,700,000 Units.
