Tinka Closes Private Placement Financing

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VANCOUVER, May 14, 2013 /CNW/ - Tinka Resources Limited (the "Company"), (TSXV: TK) (Frankfurt: TLD) (OTCPK: TKRFF), announces the closing of a private placement financing (the "Financing") announced by the Company on April 24, 2013 and May 9, 2013. The Company has raised gross proceeds of $2,575,725 through the issuance of 3,030,265 units at $0.85 per unit (the "Units").  Each Unit consists of one common share and one-half of one share purchase warrant (each whole warrant a "Warrant").  Each Warrant entitles the holder to purchase one common share at a price of $1.25 per common share for a period of eighteen months.

All securities issued under the Financing are subject to a four-month hold period that expires on September 15, 2013.

The net proceeds of the private placement are expected to be used to advance exploration work on the Company's Colquipucro and Ayawilca projects and for general working capital purposes.

Richardson GMP Limited ("RGMP") acted as agent on a portion of the Financing placing 1,947,500 Units.  In consideration for RGMP's services, the Company paid a cash fee of $165,538 and issued 194,750 compensation warrants. Each compensation warrant entitles the holder to purchase one Unit of the Company under the same terms as the Financing Units.  In addition, the Company has paid a finder a cash commission of 6% of certain proceeds and issued 7,500 finder warrants, each finder warrant having the same terms and conditions as the Financing Warrants.

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 (TSXV: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" 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.

 

SOURCE: Tinka Resources Limited

Company Contact:
Mariana Bermudez at [phone] 
or email: [email protected]

website:  www.tinkaresources.com 

Investor Information Contact: 
Michael D'Amico
Tel:   [phone]
Email: [email protected]