Inca One Announces Brokered Private Placement

Inca One (TSXV:IO) has entered into a letter of engagement with Wolverton Securities Ltd., pursuant to which the Agent has agreed to raise on a commercially reasonable efforts private placement basis gross proceeds of a minimum of $500,000 up to a maximum of $1,000,000 through the issuance of units of the Company at a price of $0.30 per unit.

As quoted in the press release:

Each Unit will consist of one common share of the Company and one-half of one non-transferable common share purchase warrant (a “Warrant”), each whole Warrant exercisable into one additional common share of the Company at a price of $0.35 per common share, for a period of 24 months from the closing date of the Offering, subject to accelerated expiry outlined below.

If at any time from four months and one day following the closing of the Offering, the closing price of the Company’s common shares on the TSX Venture Exchange (“TSXV”) over a period of 10 consecutive trading days exceeds $0.50, the Company may, at its option, accelerate the expiry date of the Warrants by providing notice to the holders that the Warrants will expire on the date which is 30 calendar days after the date of such notice.

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