Inca One Granted TSXV Exchange Approval to Proceed With Share Consolidation
VANCOUVER, BC – January 10, 2020 – INCA ONE GOLD CORP. (TSXV: IO) (Frankfurt:SU9.F) (SSEV: IOCL) (“Inca One” or the “Company”) announces that the TSX Venture Exchange has approved the consolidation (the “Share Consolidation”) of its issued and outstanding common shares (the “Common Shares”) on the basis of one (1) new common share (a “Consolidated Common Share”) for every ten (10) currently-outstanding Common Shares (“Pre-Consolidated Common Shares”), which was originally announced in the Company’s news release dated December 19, 2019.
The Share Consolidation will take effect with the Common Shares trading on a post-Consolidation basis beginning at the open of markets on Jan 14, 2020 under new CUSIP number 45328X305. Currently, the Company has 264,517,440 Pre-Consolidated Common Shares issued and outstanding. Assuming no other change in the issued capital of the Company, it is expected upon completion of the Share Consolidation, Inca One will have approximately 26,451,744 Consolidated Common Shares issued and outstanding, subject to rounding. Any fractional shares equal or greater to one-half resulting from the Share Consolidation will be rounded up to the next whole number. Otherwise, the fractional share will be rounded down to the next whole number. In addition, the number, exercise price or exchange basis of all warrants and stock options will be adjusted, as applicable, to reflect the ten-for-one Share Consolidation. Inca One’s name and trading symbol will not change as a result of the Share Consolidation.
A letter of transmittal will be sent out to registered shareholders of the Company by the Company’s transfer agent, Computershare Investor Services Inc. Registered shareholders must submit their respective share certificate(s) representing Pre-Consolidated Common Shares to the Company’s transfer agent, Computershare Investor Services Inc, 510 Burrard Street, 3rd Floor, Vancouver, BC V6C 3A8, to receive share certificates representing their post-Consolidated Common Shares. Pre-Consolidated Common Shares held under DRS Advices will be automatically adjusted, in accordance with the ratio, to reflect the number of post-Consolidated Common Shares.
The Board of Directors of Inca One believes that establishing a higher market price for the Company’s common shares could increase investment interest for the common shares in equity capital markets by potentially broadening the pool of investors that may consider investing in the Company, including investors whose internal investment policies prohibit or discourage them from purchasing stocks trading below a certain minimum price.
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 100%-owned Chala One and 90%-owned Kori One milling facilities, located in Arequipa, Southern Peru.
On behalf of the Board,
President and CEO
INCA ONE GOLD CORP.
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Inca One Gold Corp.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
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 due to factors such as: (i) fluctuation of mineral prices; (ii) a change in market conditions; and (iii) the fact that future operational results may not be accurately predicted based on this limited information to date. Except as required by law, the Company does not intend to update any changes to such statements. Inca One believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.