The Sentient Group, a resources-focused private equity firm based in the Cayman Islands and with an office in Montréal, has acquired securites in Tinka Resources Ltd (TSX-V: TK). Based in Vancouver, Tinka is a junior exploration company focused on two mining projects in the silver-lead-zinc belt of central Peru. Sentient’s private placement was followed by an additional investment related to Tinka’s acquisition of Darwin Resources Corp. As a result of the two transactions, Sentient will have potential ownership of up to 26.45 percent of the company’s outstanding shares.
Sentient IV acquires securities of Tinka Resources Ltd.
MONTREAL, July 24, 2014 /CNW Telbec/ – Sentient Executive GP IV, Limited (“Sentient IV”) announces that, in connection with a financing announced by Tinka Resources Ltd. (“Tinka”), it has acquired control over 19,512,727 units (“Units”) of Tinka on July 24, 2014 (the “Private Placement”). Each Unit is comprised of one common share in the capital of Tinka (a “Tinka Share”) and one half of one common share purchase warrant of Tinka (each whole warrant, a “Tinka Warrant”). Each Tinka Warrant entitles the holder thereof to acquire a Tinka Share at a price of $0.365 per share. The Tinka Warrants are exercisable until July 24, 2016. As such, the Offeror has acquired control over 19,512,727 Tinka Shares and 9,756,364 Tinka Warrants.
In addition, immediately after the Private Placement, Sentient IV acquired control over 1,510,988 Tinka Shares pursuant to the closing of the plan of arrangement involving Darwin Resources Corp. (“Darwin”) and Tinka, through the exchange of the 8,311,266 common shares of Darwin controlled by Sentient IV for 1,510,988 Tinka Shares.
Assuming the full exercise of the 9,756,364 Tinka Warrants, Sentient IV would acquire control over a maximum of 30,780,079 Tinka Shares (including the 21,023,715 Tinka Shares issued on July 24, 2014), representing approximately 24.47% of the outstanding Tinka Shares, calculated on a partially diluted basis assuming the full exercise of the 9,756,364 Tinka Warrants only.
Sentient IV has control or direction over 22,841,897 Tinka Shares (representing approximately 19.69% of the outstanding Tinka Shares), and the right to acquire 10,665,455 Tinka Shares through 10,665,455 Tinka Warrants.
Assuming the full exercise of the 10,665,455 Tinka Warrants, Sentient IV would acquire control over a maximum of 33,507,352 Tinka Shares (including the 21,023,715 Tinka Shares issued on July 24, 2014), representing approximately 26.45% of the outstanding Tinka Shares, calculated on a partially diluted basis assuming the full exercise of the 10,665,455 Tinka Warrants only.
Sentient IV acquired the Units for investment purposes only and not with a view to materially affecting control of Tinka.
SOURCE Sentient Executive GP IV, Limited
For further information: 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.
Photo courtesy of Tinka Resources Ltd