Inca One Appoints George Moen as Chief Operating Officer
October 17, 2013
Vancouver, B.C., October 17th 2013 – INCA ONE RESOURCES CORP. (TSX‐V:IO) (“Inca One” or the “Company”) is pleased to announce the appointment of Mr. George Moen as Chief Operating Officer (“COO”).
Mr. Moen was former President of Blenz Coffee from 2007 to 2012, and used his expertise to grow the franchise to more than 100 locations around the world. He has extensive experience and knowledge in operations management specializing in transitioning small businesses into big business success stories via strategic planning and growing cash flow.
“Mr. Moen is an excellent fit to strengthen our team, manage, acquire and build our cash flow in Peru,” states Edward Kelly, President and Chief Executive Officer of Inca One. “He is our largest shareholder, and we recognize his passion and his commitment to building a large cash flowing business. As the company advances to production, a professional with the experience of Mr. Moen will be invaluable in senior management.”
The company also announces it is proceeding to close with its previously announced convertible debenture offering (the “Offering”) to raise gross proceeds of $275,000.
The debentures will bear interest at a rate of ten percent (10%) per annum, calculated and paid quarterly in arrears. During the first year of the term of the debentures, 20% of the principal, at the option of the holder, may be converted into common shares of the Company at a price of $0.10 per common share. In addition, the holder will have the option to receive common shares of the Company, to be issued a deemed price of $0.10 per common share, in lieu of cash as payment for interest payable during the first year of the debentures.
The debentures are redeemable by the Company at any time following three years after closing of the Offering. It is anticipated that the debentures will be secured by a security interest in all of the Company’s present and after acquired property pursuant to a security agreement. Finder’s fees may be payable in respect of the placement in accordance with the rules of the TSX Venture Exchange, and the placement remains subject to the approval of the TSX Venture Exchange.
About Inca One Resources Corp
Inca One is a Canadian-based mineral resource company with a newly acquired gold milling facility & 2 substantial exploration assets in Peru which was home to the Inca Empire, it is currently the largest gold producer in South America, hosting mines which produced up to 26 million ounces of gold. A highly mineral-rich country, Peru is the largest producer of silver and 2nd largest producer of copper worldwide as of 2009.
On behalf of the Board,
INCA ONE RESOURCES CORP.
NEITHER 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. THIS PRESS RELEASE CONTAINS CERTAIN "FORWARD LOOKING STATEMENTS", WHICH INCLUDE BUT IS NOT LIMITED TO, STATEMENTS WITH RESPECT TO THE FUTURE OPERATING PERFORMANCE OF THE COMPANY, ITS SUBSIDIARIES AND ITS PROJECTS. FORWARD LOOKING STATEMENTS CAN GENERALLY BE IDENTIFIED BY THE USE OF WORDS SUCH AS "PLANS", "EXPECTS", OR "DOES NOT EXPECT" OR "IS EXPECTED", "ANTICIPATES" OR "DOES NOT ANTICIPATE", OR "BELIEVES", "INTENDS", "FORECASTS", "BUDGET", "SCHEDULED", "ESTIMATES" OR VARIATIONS OF SUCH WORDS OR PHRASES OR STATE THAT CERTAIN ACTIONS, EVENT, OR RESULTS "MAY", "COULD", "WOULD", "MIGHT", OR "WILL BE TAKEN", "OCCUR" OR "BE ACHIEVED". FORWARD LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS WHICH MAY CAUSE THE ACTUAL RESULTS TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS EXPRESSED OR IMPLIED BY SAID STATEMENTS. THERE CAN BE NO ASSURANCES THAT FORWARD-LOOKING STATEMENTS WILL PROVE TO BE ACCURATE, AS ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SAID STATEMENTS. ACCORDINGLY, READERS SHOULD NOT PLACE UNDUE RELIANCE ON FORWARD-LOOKING STATEMENTS.