Inca One Provides Update on Gold Pre-Payment Facility
VANCOUVER, BC – March 31, 2021 – INCA ONE GOLD CORP. (TSXV:IO) (OTC:INCAF) (Frankfurt:SU92) (“Inca One” or the “Company”) a gold producer operating two, fully permitted, mineral processing facilities in Peru, is pleased to provide the following update.
Further to the Company’s press release dated March 16, 2021, the Company has now closed the gold prepayment facility (“Facility”) with OCIM Precious Metals SA (“OCIM”). In connection with the Facility, the Company received net proceeds of approximately US$2.45 million and the Facility will be repaid in gold bullion within 135 days of closing. The Facility is secured by a Canadian general security agreement, and, in the event of default, OCIM has the right to convert any amounts outstanding into shares of Inca One at $0.43 cents per share. Any securities issuable in connection with a default of the Facility, will be subject to a four month hold period expiring on July 26, 2021.
About Inca One
Inca One Gold Corp is a TSXV listed, gold producer operating two, fully permitted, gold mineral processing facilities in Peru. The Company has produced in excess of 92,000 ounces of gold, generating over US$125 million in revenue from its first 6 years of operations. Inca One, is led by an experienced and capable management team that has established the Company as a trusted leader in servicing government permitted, small-scale miners in Peru. Peru is the world’s seventh-largest producer of gold and its small-scale mining sector is estimated by government officials to be valued in the billions of dollars annually. Inca One possesses a combined 450 tonnes per day permitted operating capacity at its two fully integrated plants, Chala One and Kori One. To learn more visit www.incaone.com.
Figure 1. Inca One’s gold processing facilities in Peru (left: Chala One facility; right: Kori One facility)
On behalf of the Board,
President and CEO
Inca One Gold Corp.
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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 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.