Nexa Resources acquires a significant stake in Tinka Resources through a private placement, increasing its ownership and warrant holdings.
Nexa Resources S.A. has announced an equity subscription agreement with Tinka Resources Limited as part of a non-brokered private placement financing. Nexa acquired 9,859,155 units of Tinka at a price of C$0.10 per unit, for a total of C$985,915.50 (or US$700,000). Each unit consists of one common share and half of a common share purchase warrant. The warrants allow Nexa to purchase one common share at a price of C$0.15 per share for 18 months.
Prior to the investment, Nexa held approximately 18.23% of Tinka's common shares and no warrants. After the transaction, Nexa owns approximately 19.86% of Tinka's common shares and 4,929,577 warrants, representing 56.68% of Tinka's outstanding warrants. Nexa has agreed to restrict exercising its warrants if it would lead to ownership exceeding 19.99% of Tinka's common shares without prior approval from the TSX Venture Exchange and Tinka's disinterested shareholders
INVESTMENT PRIVATE PLACEMENT MINING NEXA RESOURCES TINKA RESOURCES
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