By Devika Patel
Knoxville, Tenn., Jan. 14 - Inca Pacific Resources Inc. settled a C$2.58 million non-brokered private placement of shares. The deal priced for C$3.4 million on Dec. 21.
Inca sold 1,515,600 common shares. The company planned to sell 2 million shares at C$1.70 each to Sprott Asset Management.
The company may pay a C$136,404 cash finder's fee to Credibolsa SAB SA and warrants to buy 75,780 shares at C$2.50 for 18 months.
Proceeds will be used to advance the company's Magistral copper-molybdenum deposit located in Ancash, Peru, and for general working capital.
Inca Pacific is a resource company based in Vancouver, B.C.
| Issuer: | Inca Pacific Resources Inc.
|
| Issue: | Shares
|
| Amount: | C$2,576,520
|
| Shares: | 1,515,600
|
| Price: | C$1.70
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Sprott Asset Management
|
| Fees: | C$136,404, warrants to buy 75,780 shares
|
| Pricing date: | Dec. 21
|
| Settlement date: | Jan. 14
|
| Stock symbol: | TSX Venture: IPR
|
| Stock price: | C$1.80 at close Dec. 20
|
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