Tinka Upsizes Private Placement to C$14 Million and Announces Grant of Stock Options

Core Viewpoint - Tinka Resources Limited has increased its private placement financing from C$11 million to C$14 million due to strong investor demand, and plans to undertake a share consolidation prior to the offering [1][2]. Upsizing of Offering - The upsized offering will consist of the sale of up to 254,545,455 units at a price of C$0.055 per unit pre-consolidation, or 50,909,091 units at C$0.275 per unit post-consolidation, aiming for gross proceeds of up to C$14 million [2]. - Each unit includes one common share and one-half of a common share purchase warrant, with warrants allowing the purchase of additional shares at C$0.08 pre-consolidation or C$0.40 post-consolidation for 36 months from the closing [2]. Participation and Related Party Transactions - Certain directors and officers of the company, along with Nexa Resources S.A. and Compañia de Minas Buenaventura SAA, may participate in the offering to maintain their pro-rata interests [3]. - If pre-emptive rights are fully exercised, the company could issue an additional 167.75 million shares for approximately C$9.22 million [3]. Use of Proceeds - The net proceeds from the offering will be used to fund an initial drill program at the Silvia gold-copper project, resource expansion at Ayawilca, and for corporate and general working capital purposes [5]. Grant of Stock Options - The Board has approved the grant of stock options to purchase up to 33,000,000 pre-consolidation shares at an exercise price of C$0.08 per share, or 6,600,000 post-consolidation shares at C$0.40 per share, with options exercisable until September 10, 2030 [7][8]. Company Overview - Tinka Resources Limited is focused on the exploration and development of its flagship Ayawilca zinc-silver-tin project in Peru, which has significant mineral resources, including an indicated mineral resource of 28.3 million tonnes grading 5.8% zinc [10].