Tinka Resources appoints Macdonald, Horner as directors

Executive Summary

• Tinka Resources Ltd. announced a private placement financing of up to C$11 million, consisting of units priced at C$0.055 each (pre‑consolidation) and a 1‑for‑5 share consolidation to be completed immediately prior to closing.
• Brandon Macdonald and Michael Horner were appointed to the board; Macdonald will become Executive Chairman upon closing of the offering.
• Proceeds are earmarked for an initial drill program at the Silvia gold‑copper project, resource expansion at Ayawilca (zinc‑silver‑tin), and general working capital.

Key Details

• Financing Structure: Non‑brokered private placement of up to 200 million units at C$0.055 per unit (pre‑consolidation) or 40 million units at C$0.275 per unit (post‑consolidation).
• Gross Proceeds: Up to C$11 million; potential additional proceeds of ≈C$7.26 million if Nexa Resources SA and Compañía de Minas Buenaventura SAA exercise pre‑emptive rights, issuing up to an extra 132 million shares.
• Unit Composition: Each unit = one common share + one half‑share purchase warrant; warrants exercisable at C$0.08 (pre‑consolidation) or C$0.40 (post‑consolidation) for 36 months after closing.
• Share Consolidation: One‑for‑five consolidation to occur immediately before the offering closes; post‑consolidation share count projected at ~148,139,600 (assuming full financing and pre‑emptive rights exercised).
• Board Appointments: Brandon Macdonald (Executive Chairman upon closing) and Michael Horner appointed as directors effective immediately. Both bring extensive exploration, M&A, and capital‑markets experience.
• Use of Proceeds: Fund initial drilling at the Silvia gold‑copper property (first program slated for Oct 2025), expand resources at Ayawilca (targeting high‑grade zinc mineralization), and cover corporate/general working capital needs.
• Insider Participation: Certain directors/officers may participate; such participation qualifies as a related‑party transaction exempt from formal valuation under MI 61‑101.
• Regulatory Conditions: Offering subject to customary conditions, including TSX Venture Exchange approval and a four‑month hold period on securities.

Notable Quotes

“I am delighted to welcome Brandon and Michael to Tinka's board of directors… Their strong capital markets experience will be a valuable asset to the company.” – Dr. Graham Carman, CEO

Materiality Assessment: Material – Positive (significant financing to advance key projects and strategic board appointments).