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Inca One Resources Corp.(TSXV:IO) announced the closing of the May 16, 2011 option agreement with Rial. Inca One now has an option to acquire all Rial’s outstanding shares in the Las Huaquillas project. Inca One also announced the filing of a technical report relating to the Las Huaquillas project.
As quoted in the press release:
Pursuant to the Agreement, the Company can acquire 100% of Rial Shares, of which 95% may be
acquired by: (a) paying an aggregate of US$5,000,000 to the Optionors; (b) issuing 5,000,000 common
shares of Inca One to the Optionors; and (c) incurring exploration expenditures of US$10,000,000 on the
Project, all over a period of four years.
Click here to read the Inca One Resources Corp. (TSXV:IO) press release
Click here to see the Inca One Resources Corp. (TSXV:IO) profile.