VANCOUVER, June 12, 2017 /CNW/ - INCA ONE GOLD CORP.
(TSXV: IO, Frankfurt:
SU9.F, SSEV: IOCL) ("Inca One" or the
"Company") announces that it has closed the first tranche of
its previously announced (June 9,
2017) non-brokered private placement (the "Private
Placement" or "Offering") for gross proceeds of
CAD$1,100,000 million by the issuance
of 11,000,000 units (the "Units") at a subscription price of
CAD$0.10 per Unit.
Each Unit is comprised of one common share of the Company (a
"Share") and one-half of one transferable common share
purchase warrant (a "Warrant"). Each whole Warrant will be
exercisable to purchase an additional Share of the Company at an
exercise price of CAD$0.15 for a
period of 18 months from the closing date ("Closing
Date"). The Company intends to close the final
tranche of the Private Placement shortly.
The proceeds from the Offering will be used for operating cost
reductions, plant infrastructure upgrades, and mineral
purchases. All securities issued pursuant to the Private
Placement are subject to a statutory hold period of four months
plus one day from the date of issuance, in accordance with
applicable securities legislation.
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, estimated to
be valued 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.
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 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.