Inca One (IO.V) has announced on Friday they closed a private placement, raising C$953,000 before expenses. The money was raised at 10 cents with a full three year warrant at C$0.20 subject to accelerated expiration when the common shares of Inca One are trading at or above C$0.30 for five consecutive trading days.
We estimate Inca One’s treasury now contains approximately C$1.25M in cash, which should be sufficient to start production at the Corizona mine which is allowed to have a production of up to 350 tonnes per day while working towards formal operating permits.
Inca One is a new sponsor of the website and we’ll be publishing a Q&A report with CEO Edward Kelly later this month.
Disclosure: Inca One Resources Corp. is a sponsoring company. Please see our disclaimer for current positions.
