VANCOUVER, April 6, 2017 /CNW/ - INCA ONE GOLD
CORP. (TSXV: IO, Frankfurt: SU9.F, SSEV: IOCL)
("Inca One" or the "Company") announces that
it is undertaking a non-brokered private placement for gross
proceeds of up to CAD$500,000 (the
"Private Placement" or "Offering"). The
Company intends to close this Private Placement imminently.
The Private Placement will consist of the issuance of 3,333,333
million units (the "Units") at a subscription price of
CAD$0.15 per Unit. Each Unit
will be comprised of one common share of the Company (a
"Share") and one transferable common share purchase warrant
(a "Warrant"). Each Warrant will be exercisable to
purchase an additional Share of the Company at an exercise price of
CAD$0.28 for a period of 36 months
from the closing date ("Closing Date").
Inca One is pleased to announce that BWBI Corp. ("BWBI")
will subscribe for 2,333,333 Units for gross proceeds of
$350,000 in this Private
Placement. BWBI will hold approximately 3.7% of the issued
and outstanding common shares of the Company post Private Placement
on an undiluted basis.
"I am excited to welcome BWBI as a valuable and strategic
investor dedicated to our vision for growth," commented Inca One
President and CEO Edward Kelly.
"This new relationship will further enhance our market presence and
allow us to accelerate growth initiatives. Inca One views their
investment at this time as a vote of confidence in our company and
we look forward to working together to further grow our business
and build shareholder value."
BWBI's management further reports: "Inca One had a
transformational year in which the Company re-structured its
balance sheet and ramped up their milling facility to become one of
the
permitted companies for small scale miners in Peru. Under the leadership of President
Pedro Pablo Kuczynski, "PPK" Peru
has given needed comfort to foreign investment in the resource
sector. As investors we feel comfortable in Peru, and look forward to assisting Inca One
as they move into positive cash flow and have the ability to create
significant shareholder value moving forward."
The proceeds from the Offering will be used for general working
capital requirements. 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 4 months plus a day from the Closing Date
in accordance with applicable securities legislation. No finder's
fees will be paid in connection with this Offering. Closing of the
Private Placement, is subject to the approval of the TSXV.
The securities described herein have not been registered under
the U.S. Securities Act of 1933, as amended, and may not be offered
or sold in the United States
unless registered under the Act or unless an exemption from
registration is available.
About Inca One
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. Peru is the 6th largest producer
of gold in the world and the Peruvian government estimates the
small scale mining sector accounts for a significant portion of all
Peruvian gold production, valued at approximately US$3 billion annually. The Company purchases its
minerals from government registered small-scale mining producers
from various regions and processes it at its Chala One milling
facility located in Chala, Southern
Peru.
About BWBI
BWBI is a private family-owned investment firm that specializes
in private and public small to mid-market companies. BWBI, or one
of its subsidiaries or affiliates, has been an early-stage
shareholder in resource, pharmaceutical and technology sector
companies that have successfully created over $7 billion of market capitalization and
$3 billion of equity and debt capital
raises.
On behalf of the Board,
Edward Kelly,
President and CEO
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.
SOURCE Inca One Gold Corp.