Inca One Announces the Results of Its 2020 Annual General Meeting
VANCOUVER, BC – December 18, 2020 – INCA ONE GOLD CORP. (TSXV:IO) (OTC:INCAF) (Frankfurt:SU92) (“Inca One” or the “Company”) a gold producer operating two fully permitted, mineral processing facilities in Peru, has released the results of its Annual General Meeting (the “Meeting”) of shareholders held on December 17, 2020 in Vancouver, British Columbia.
At the Meeting, all resolutions were duly passed by the requisite majority. Based on proxies received, 2,552,935 million common shares of the company representing 7.42% of the issued and outstanding common shares as at the record date were voted and all directors were re-elected until the next annual meeting of shareholders.
Grant Thornton LLP, Chartered Professional Accountants were re-appointed as auditors of the Company for the ensuing year and shareholders confirmed the Company’s stock option plan.
For additional information on these matters please refer to Inca One’s information circular available on the company’s website at https://www.incaone.com/investors/agm/ or on SEDAR.
Stock Option Grant
Pursuant to the Company’s Stock Option Plan, the Board of Directors has authorized the granting of incentive stock options (the “Options”) to directors and officers of the Company to acquire an aggregate of 1.65 million common shares of the Company. These Options are exercisable at CDN $0.55 per stock option. The Options expire on December 18, 2022 and will vest in accordance with the policies of the TSX Venture Exchange.
Following this grant of stock options, the Company has a total of 3.2 million stock options outstanding representing approximately 9% of the outstanding common shares of the Company. This Option grant is subject to TSX Venture Exchange approval.
About Inca One
Inca One Gold Corp is a TSXV listed, gold producer operating two, fully permitted, gold mineral processing facilities in Peru. The Company produced nearly 25,000 ounces of gold from its operations in 2019 and has generated over US$100 million in revenue over the last five years. Inca One, now in its sixth year of commercial production, is led by an experienced and capable management team that has established the Company as a trusted leader in servicing government permitted, small scale miners in Peru. Peru is the world’s sixth-largest producer of gold and its small-scale mining sector is estimated by government officials to be valued in the billions of dollars annually. Inca One possesses a combined 450 tonnes per day permitted operating capacity at its two fully integrated plants, Chala One and Kori One, and is targeting a fourth consecutive year of increased production and sales growth. To learn more visit www.incaone.com.
Figure 1. Inca One’s gold processing facilities in Peru (left: Chala One facility; right: Kori One facility)
On behalf of the Board,
Edward Kelly
President and CEO
INCA ONE GOLD CORP.
For More Information Contact:
Konstantine Tsakumis
Inca One Gold Corp.
ktsakumis@incaone.com
604-568-4877
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.