Inca One Announces Management Change
VANCOUVER, BC – April 29, 2016 - INCA ONE GOLD CORP. (TSX.V: IO) (“Inca One” or the “Company”) announces that George Moen has stepped down from his senior management position as Chief Operating Officer (“COO”) and transitioned into a strategic advisory role with the company.
Mr. Moen’s extensive experience and knowledge from his many other businesses played an instrumental part in the transition of Inca One from an exploration stage company, through its strategic planning and commissioning phases and into its successful evolution as an operating cash flowing gold processor.
Given the balance sheet restructuring and cost savings measures completed by the company, Mr. Moen agreed to take a step back from his day to day functions with Inca One as of March 1st, 2016, helping further reduce administrative overhead while still maintaining an advisory presence. This step back will also afford him the ability to continue managing his other businesses and to pursue new opportunities that still require his expertise and time. Mr. Moen will maintain his position as the company’s largest individual shareholder and will continue to play a key role as a senior advisor to the company as it grows and moves into its next phase of operations.
Mr. Edward Kelly, President and CEO of Inca One, commented, “We appreciate the passion and commitment George brought to Inca One on a daily basis as we built the company into one of only a few remaining publicly listed gold processors. We recognize the considerable value that George has contributed to Inca One over these past three years in establishing us as a leader in this sector. We look forward to continuing our relationship with him in his new role as a key strategic advisor and major shareholder.
About Inca One Gold Corp.
Inca One is a Canadian-based mineral processing company with a gold milling facility in Peru, servicing government-permitted small-scale miners. As part of the terms of the original purchase agreement for the Chala, Peru processing facility, Inca One has an agreement between its wholly owned subsidiary, Chala One SAC, and the seller and initial permit applicant, to operate under the umbrella of formalization until the successful completion of all the environmental and operating permits. Peru, a highly mineral-rich country, is one of the world's top producers of gold, silver, copper and zinc, with substantial production coming from small scale miners who need government permitted milling facilities to process their mineral (such as the Company's Chala One Plant).
On behalf of the Board of Inca One
President and CEO
INCA ONE GOLD CORP.
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INCA ONE GOLD CORP.
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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. Except as required by law, the Company does not intend to update any changes to such statements.
This news release deals only with the Company's Chala plant, which is an industrial project. This presentation does not deal at all with the Company's sole mineral exploration property, the Corizona property. Investors should note that no resource has been established on the Corizona property and all of the material currently being processed at the Chala plant is received from local small-scale mining operations.