Inca One Gold closes $1.1M first tranche

pcNewsWireInca One Gold Corp.(TSX-V: IO; FSE: SU9; SSEV: IOCL) has closed first tranche of previously announced non-brokered private placement for gross proceeds of CDN $1,100,000 by the issuance of 11,000,000 units at CDN $0.10 per unit.

News Release


VANCOUVER, BC – June 12, 2017 – 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 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.

For More Information Contact:
Konstantine Tsakumis
Inca One Gold Corp.