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Inca One Gold Corp V.INCA.H

Alternate Symbol(s):  INCAF

Inca One Gold Corp. is a Canada-based gold producer operating two permitted, gold mineral processing facilities in Peru. It is engaged in the business of operating and developing gold-bearing mineral processing operations in Peru, to service government permitted small scale miners. The Company possesses a combined 450 tons per day (TPD) permitted operating capacity at its two fully integrated plants, Chala One and Kori One. The Chala One Plant is a full-service milling facility, with weighing, sampling and metallurgical test facilities on site, along with crushing, grinding and carbon-leaching circuits, full material handling, desorption, smelting and tailings disposal facilities. The Chala One Plant facility has a permitted capacity of approximately 100 tons per day. Kori One facility has a permitted capacity of approximately 350 TPD, which is located in the Arequipa region of Peru. It has-in house, metallurgical and chem labs, desorption and smelting facilities.


TSXV:INCA.H - Post by User

Bullboard Posts
Post by TheRock07on Jul 12, 2016 6:19pm
126 Views
Post# 25046321

Absolutely the Right Move

Absolutely the Right Move

 

Inca One to roll back shares one for five, raise $4M

 

2016-07-08 08:48 ET - News Release

 

Mr. Edward Kelly reports

INCA ONE GOLD CORP. ANNOUNCES EQUITY FINANCING AND PROPOSED SHARE CONSOLIDATION

Inca One Gold Corp. is undertaking a non-brokered private placement for gross proceeds of up to $4-million. Concurrent with the private placement, the company will also conduct a one-for-five share consolidation of its common shares.

Financing

Inca One will undertake, on a postconsolidation basis, a non-brokered private placement of up to 16 million units of the company at a subscription price of 25 cents per unit for gross proceeds of up to $4-million. Each unit will comprise one common share and one-half of a transferable common share purchase warrant. Each whole warrant will be exercisable to purchase an additional common share of the company at a postconsolidation exercise price of 40 cents for a period of 36 months from the closing date. The private placement will feature an acceleration clause that will trigger the exercise of the warrants in the event the closing price of company's common shares on the TSX Venture Exchange is higher than 60 cents postconsolidation for a period of 15 consecutive trading days.

The proceeds from the offering will be used for purchases of mineral, inventory supplies and materials, select debt repayments, and general working capital requirements. All securities issued in connection with the private placement will be subject to a statutory hold period of four months plus a day from the placement closing date in accordance with applicable securities legislation.

In connection with the offering, the company may pay a finder's fee to eligible finders up to 8 per cent cash and 8 per cent warrants of the gross proceeds received, as applicable. Closing of the private placement is subject to the execution of definitive transaction documents and the approval of the TSX Venture Exchange. The company will no longer be pursuing the convertible debenture offering announced on April 19, 2016.

Debt restructuring and settlement

As a condition of the private placement, the company will be finalizing the debt restructuring and settlement agreements as previously announced in the press release dated April 19, 2016. Certain amendments to the settlement terms will be enacted to reflect select adjustments to the capital structure arising from the private placement and consolidation.

Share consolidation

In connection with the private placement, Inca One has received board approval for the consolidation of its issued and outstanding common shares on the basis of one postconsolidation share for every five preconsolidation shares. The consolidation is subject to the approval of the TSX-V.

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