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Tinka Resources to Acquire Darwin and arranges $4.54 mln financing


Thursday, 17 Apr 2014 01:34pm EDT 

Tinka Resources Ltd and Darwin Resources Corp:Enters into binding agreement whereby Tinka has agreed to acquire through a statutory plan of arrangement all of the outstanding shares of Darwin.Darwin shareholders will receive one Tinka common share for each five and one half Darwin common shares resulting in the issuance of 6,131,725 Tinka Shares in exchange for 33,724,488 Darwin Shares.Tinka will undertake a private placement of up to 16,509,090 units at a price of $0.275 per Unit for gross proceeds of up to $4.54 mln.Sentient Global Resources Fund IV, LP subscribe for 12,872,727 Units under the Private Placement. 

Company Quote

0.225
-0.01 -4.26%
11:15am EDT