16:15:36 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Inca One Resources Corp
Symbol IO
Shares Issued 63,929,674
Close 2014-08-27 C$ 0.15
Market Cap C$ 9,589,451
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Inca One closes half of final tranche for $1.4-million

2014-08-29 15:50 ET - News Release

Mr. Edward Kelly reports

INCA ONE ANNOUNCES FINAL TRANCHE CLOSING OF $5.5M BOND FINANCING

Inca One Resources Corp. has entered into an amended subscription agreement with respect to the final tranche of its previously announced bond financing. The first tranche of the bond financing closed on June 3, 2014, for gross proceeds of $2.7-million.

Under the terms of the amended subscription agreement, the closing of the final tranche of the bond financing will occur in two separate tranches, each for gross proceeds of $1.4-million, the first of which closed on Aug. 29, 2014, and the second of which is scheduled to close in September, 2014.

Edward Kelly, president and chief executive officer of Inca One, stated: "We are pleased to have negotiated the amended subscription agreement. The new closing schedule more closely matches our funding needs for the Chala One plant expansion and will lower our interest expenses accordingly."

As previously disclosed, the proceeds from the bond financing will be used to finance increasing the throughput capacity on the company's gold milling facility located in Chala, Peru.

The company also advises that under the company's stock option plan, it has issued 500,000 incentive stock options at an exercise price of 15 cents. The stock options expire five years from the date of grant.

We seek Safe Harbor.

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