More PP news
Inca One arranges $201,000 private placement
2014-02-06 20:27 ET - News Release
Mr. Edward Kelly reports
INCA ONE ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Inca One Resources Corp. has arranged a non-brokered private placement of 2.01 million shares at a price of 10 cents per share for gross proceeds of $201,000. Of the shares issued pursuant to the private placement, 650,000 shares will be issued to parties, including a director of the company, who have sold previously an equivalent number of common shares of the company at a price of 10 cents per share through the facilities of the TSX Venture Exchange. The company has agreed to reimburse these subscribers for the cost of the sale of their shares in the market.
The net proceeds from the private placement will be used for working capital and upgrading of Chala One milling facility in Peru. All securities issued pursuant to the private placement will be subject to a statutory hold period of four months and one day. Completion of the private placement is subject to the approval of the TSX Venture Exchange.