Ifc3 Feb 2019 09:56
WASHINGTON, May 2, 2017 /CNW/ - IFC, a member of the World Bank Group, today announced the sale of certain common shares of Tinka Resources Limited (Tinka). On April 27, 2017 IFC sold and disposed of ownership and control over, a total of 2,500,000 common shares of Tinka at an average price of CDN$0.65 per share through the facilities of the TSX Venture Exchange for total gross proceeds of CDN$1,625,000. Subsequently on April 28, 2017, IFC sold and disposed of ownership and control over, a total of 8,083,315 common shares (collectively with the above shares, the Sold Shares) of Tinka at an average price of CDN$0.65 per share through the facilities of the TSX Venture Exchange for total gross proceeds of CDN$5,254,154.75 or $6,879,154.75 aggregate gross proceeds across the two transactions.
The 10,583,315 Sold Shares represented approximately 5.16% of the total issued and outstanding common shares of Tinka assuming 204,807,322 common shares of Tinka are outstanding.
IFC previously held 28,680,232 Common Shares representing approximately 14% of the total issued and outstanding Common Shares or 20.13%, assuming the exercise of its 15,697,674 warrants (IFC Warrants).
Following the above transaction, IFC will hold 18,096,917 Common Shares representing, approximately 8.84% of the outstanding Common Shares (assuming the completion of all subscriptions under the Private Placement), or 15.33% assuming the exercise of the IFC Warrants.
IFC executed these transactions as part of its regular portfolio management. It will maintain its remaining holdings in Tinka for investment purposes and may, in the future, take such actions in respect of its holdings as it deems appropriate in light of the circumstances then existing
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