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Inca One Closes First Tranche of Bond Financing

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Inca One Closes First Tranche of Bond Financing






INCA ONE RESOURCES CORP. (TSX-V:IO) is pleased to announce that it has closed the first tranche of its previously announced bond financing for gross proceeds to the Company of $2,700,000.

Pursuant to the Bond Financing, the Company’s wholly-owned subsidiary issued a three year bond which will bear interest at a rate of 10% per annum, calculated and payable quarterly in arrears commencing no later than six months from the date of issue. An additional $2,800,000 in Bonds will be issued in a subsequent closing of the Bond Financing, which is expected to be on or around June 30, 2014.

In connection with the Bond Financing and as partial consideration for the subscription by the purchaser of the Bonds, the Company and the purchaser have entered into a financing fee agreement whereby the Company and the Subsidiary will provide the purchaser a 3.5% financing fee on the net revenues from the Company’s Chala mill in Peru. The term of the financing fee agreement expires on December 31, 2024 and may be extended for a maximum of ten years, subject to certain adjustments and a right of repurchase in favour of the Subsidiary. The Subsidiary’s obligations under the Bond Financing are also secured by a general security agreement over the Subsidiary’s property, which will be guaranteed by the Company.

A finder’s fee of 8% of the gross proceeds of the Bond Financing will be payable in cash by the Company to SC Strategy Consult AG. The Company will also issue to the Finder that number of finder’s warrants equal to 8% of the Bond Proceeds, divided by the exercise price of $0.15. Closing of the Bond Financing is subject to final approval of the TSX Venture Exchange.

The proceeds from the Bond Financing will be used to fund improvements on the Company’s gold mining facility located in Chala, Peru.

About Inca One Resources Corp.


Inca One is a Canadian-based mineral resource company and ore processing company with a gold milling facility in Peru, servicing government-permitted small-scale miners. A highly mineral-rich country, Peru is one of the world’s top producers of gold, silver, copper and zinc, with substantial production coming from small scale miners who need government permitted milling facilities to process their ore (such as the Company’s Chala mill).

Posted June 4, 2014

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