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Cassels Brock Represents the Underwriters in Tinka's $8 Million Bought Deal Financing

Published: 04/04/2018

Team: Nancy Choi, Christopher B. Norton

On April 4, 2018, Tinka Resources Limited closed a bought deal financing, including the exercise in full of the underwriters' over-allotment option. A total of 16,790,000 units of Tinka were sold at a price of $0.48 per unit for aggregate gross proceeds of approximately $8 million. Each unit consisted of one common share and one-half of a common share purchase warrant. Each warrant entitles the holder to acquire one common share of Tinka at a price of $0.75 at any time prior to April 4, 2019.

The offering was completed through a syndicate of underwriters led by GMP Securities L.P. and including Canaccord Genuity Corp., Beacon Securities Limited, CIBC World Markets Inc., and Industrial Alliance Securities Inc.

Cassels Brock acted for the underwriters with a deal team that included Nancy Choi and Belinda Chiu (Securities and Mining) and Chris Norton (Tax).