Inca One Resources (IO.V) has announced it closed a deal with Global Resources Investment Trust, a soon-to-be trading investment fund in London. Inca One will issue 10 million shares at C$0.12 per share and receive 716,589 shares of GRIT at a deemed value of 1GBP, for a total of C$1.2M. Inca One will be able to sell the GRIT shares when the trust will be listed on the London Stock Exchange. During the first six months after the listing, GRIT shares can only be sold through secondary offerings organized by GRIT.
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Disclosure: Inca One Resources is a sponsoring company. The author holds a long position. Please see our disclaimer for current positions.
