NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES AND NOT FOR DISSEMINATION IN THE UNITED STATES
MONTREAL, April 09, 2018 (GLOBE NEWSWIRE) -- Sentient Executive GP IV, L.P. (“Sentient IV”) announces that it has acquired control over 7,322,500 units of Tinka Resources Limited (“Tinka”) at a price of $0.48 per unit (“Units”). The Units were acquired pursuant to a previously announced private placement by Tinka.
Each Unit consists of one (1) common share of Tinka (a “Tinka Share”) and one-half (0.5) of a common share purchase warrant of Tinka (each whole common share purchase warrant, a “Tinka Warrant”). Each Tinka Warrant entitles the holder to acquire a Tinka Share at a price of $0.75 at any time prior to April 6, 2019. As such, Sentient IV acquired control over 7,322,500 Tinka Shares and 3,661,250 Tinka Warrants that represent approximately 24.7% of Tinka’s basic shares outstanding, and approximately 23.9% fully diluted.
Prior to the acquisition of the Units, Sentient IV had control over 55,356,265 common shares of Tinka (representing approximately 24.63% of the then outstanding Tinka Shares) and the right to acquire 3,488,372 common shares of Tinka through 3,488,372 common share purchase warrants issued by Tinka. In the event all of the 3,488,372 common share purchase warrants issued by Tinka are fully exercised, Sentient IV would acquire control over a maximum of 58,844,637 common shares of Tinka (including the 55,356,265 Common Shares over which Sentient IV has control). These combined holdings would represent approximately 26.18% of the then outstanding Tinka Shares, calculated on a partially diluted basis assuming the full exercise of the 3,488,372 common share purchase warrants issued by Tinka held by Sentient IV only.
Immediately after the acquisition of the Units, Sentient IV has control over 62,678,765 Tinka Shares (representing approximately 24.7% of the outstanding Tinka Shares) and the right to acquire 7,149,622 Tinka Shares through 7,149,622 common share purchase warrants issued by Tinka. In the event all of the 7,149,622 common share purchase warrants issued by Tinka are fully exercised, Sentient IV would acquire control over a maximum of 69,828,387 Tinka Shares (including the 62,678,765 Tinka Shares over which Sentient IV has control). These combined holdings would represent approximately 26.78% of the outstanding Tinka Shares, calculated on a partially diluted basis assuming the full exercise of the 7,149,622 common share purchase warrants issued by Tinka held by Sentient IV only.
Sentient IV acquired the Units for investment purposes only and not with a view to materially affecting control of Tinka. Depending upon market conditions and other factors, Sentient IV may, from time to time, acquire or dispose of additional securities of Tinka, in the open market, by private agreement or otherwise, or acquire interests in or enter into related financial instruments involving a security of Tinka.
The head office address of Tinka is 1305 – 1090 West Georgia Street, Vancouver, British Columbia V6E 3V7.
For further information or to obtain a copy of the Early Warning Report filed by Sentient IV, please contact Sue Bjuro at (345) 946-0933.