Announcement • Jul 11
Tintina Mines Limited announced that it has received CAD 90.999999 million in funding from Sumitomo Corporation, Franco-Nevada Corporation, GMC SPV Equity 01 Inc, G Mining Capital Inc and other investors
On July 9, 2026, Tintina Mines Limited closed the non-brokered transaction. Each tranche A subscription receipt will automatically be exchanged, without any action or payment on the part of the holder thereof, into one unit comprising one common share, one-half of one common share purchase warrant exercisable at CAD 0.80 per common share for a period of three years following the date of issuance of the tranche A subscription receipts and one-half of one common share purchase warrant exercisable at CAD 1 per common share for a period of five years following the date of issuance of the tranche A subscription receipts. Concurrently, each tranche B subscription receipt will automatically be exchanged into one common share. The offering includes participation from new investors, Sumitomo Corporation, Gignac family, Franco-Nevada Corporation, GMC SPV Equity 01 Inc, and a broader group of strategic, institutional and other investors assembled by G Mining Capital Inc. The offering also includes participation from a broad investor base, including strategic and institutional investors, retail investors and global asset managers. An annual general and special meeting of the shareholders of the company has been scheduled for August 21, 2026, in order to seek the shareholder approvals. Immediately prior to the closing of the offering, the Anchor investor did not beneficially own or control any securities of the company. Immediately following the closing of the offering, the Anchor investor beneficially owns and controls 71,030,000 subscription receipts. Because the subscription receipts do not carry voting rights prior to their exchange, the Anchor investor’s current security holding percentage of the outstanding common shares of the company is 0%. Assuming the satisfaction of the escrow release conditions and the simultaneous exchange of the subscription receipts, the Anchor investor would beneficially own and control 71,030,000 common shares and 71,030,000 common share purchase warrants comprised of 35,515,000 first warrants exercisable at CAD 0.80 per common share for a period of three years, and 35,515,000 second warrants exercisable at CAD 1 per common share for a period of five years, representing approximately 25% of the issued and outstanding common shares on a non-diluted basis, and approximately 38% of the issued and outstanding common shares on a partially-diluted basis (assuming the exercise of all warrants held by the Anchor investor).
