Tinka Resources Completes First Tranche of Private Placement

Tinka Resources Ltd. has announced the closing of the first tranche of its non-brokered private placement, raising total gross proceeds of C$1,739,296 through the issuance of 17,392,958 units at C$0.10 per unit. Each unit consists of one common share and one-half of a warrant, allowing the purchase of additional shares at C$0.15 for 18 months.

Notably, major shareholders Nexa Resources and Buenaventura increased their stakes. Nexa acquired 9,859,155 units, raising its ownership to 19.9%, while Buenaventura bought 5,633,803 units, also reaching a 19.9% stake. Both firms are significant strategic investors in Tinka's Ayawilca project in Peru.

The proceeds will support drilling and exploration activities and general corporate needs. This investment reinforces the commitment by Tinka's insiders and strategic partners. The company aims to complete a second tranche in January 2025.