Inca One arranges $1.5-million private placement
Momentum Public Relations
Press Release: June 9, 2017
Inca One Gold Corp. is undertaking a non-brokered private placement for gross proceeds of up to $1.5-million.
The private placement will consist of the issuance of 15 million units at a subscription price of 10 cents per unit. Each unit will comprise one common share of the company and one-half a common share purchase warrant. Each full warrant will be exercisable to purchase an additional share of the company at an exercise price of 15 cents for a period of 18 months from the closing date.
The proceeds from the offering will be used for operating cost reductions, plant infrastructure upgrades and mineral purchases. Insiders of the company may subscribe for units under the private placement. 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 closing date in accordance with applicable securities legislation. Finders’ fees may be paid in connection with this offering. Closing of the private placement is subject to the approval of the TSX Venture Exchange.
About Inca One Gold Corp.
Inca One is a Canadian-based mineral processing company. The company’s activities consist of the production of gold and silver from the processing of purchased minerals located in Peru. The company purchases its minerals from government-registered, small-scale mining producers from various regions and processes them at its Chala One milling facility located in Chala, southern Peru.
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