Inca One Gold Corp. Announces Increase To Current Private Placement Of Units
September 8, 2016
VANCOUVER, BC – September 8, 2016 - INCA ONE GOLD CORP. (TSX.V: IO) (“Inca One” or the “Company”) is pleased to announce that the Company has increased its current non-brokered private placement of units (the “Units”) at $0.25 per share (the "Private Placement") announced on July 18, 2016, from 16 million units to 21 million Units to raise gross proceeds of up to $5.25 million from $4.0 million.
As previously disclosed, each Unit will consist of one common share (a “Common Share”) of the Company and one full Common Share purchase warrant, (a “Warrant”). Each whole Warrant will entitle the holder, on exercise thereof, to purchase one additional Common Share at a price of $0.40 per share for a period of 36 months from the completion of the Private Placement, and will feature and acceleration clause. All securities issued in connection with the Private Placement will be subject to a four-month hold period from the closing date.
The Company may pay finders' fees in connection with the Private Placement to certain eligible finders in the form of cash and/or securities.
The Private Placement is subject to all necessary regulatory approvals, including acceptance from the TSX Venture Exchange, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. The Company intends to use the proceeds from the Private Placement for general working capital purposes.
On August 26, 2016 the Company closed the first tranche of the Private Placement by raising gross proceeds of $3.25 million.
About Inca One
Inca One is a Canadian-based mineral processing company with a gold milling facility in Peru, servicing government-permitted, small-scale miners. As part of the terms of the original purchase agreement for the Chala, Peru processing facility, Inca One has an agreement between its wholly owned subsidiary, Chala One SAC, and the seller and initial permit applicant, to operate under the umbrella of formalization until the successful completion of all the environmental and operating permits. Peru, a highly mineral-rich country, is one of the world's top producers of gold, silver, copper and zinc, with substantial production coming from small scale miners who need government permitted milling facilities to process their mineral (such as the Company's Chala Plant).
On behalf of the Board,
President and CEO
INCA ONE GOLD CORP.
For More Information Contact:
Inca One Gold Corp.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Statements regarding the Company which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) fluctuation of mineral prices; (ii) a change in market conditions; and (iii) the fact that the Company has limited operating experience with its Chala plant and future operational results may not be accurately predicted based on this limited information to date. Except as required by law, the Company does not intend to update any changes to such statements. Inca One believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.