By Devika Patel
Knoxville, Tenn., Dec. 21 - Inca Pacific Resources Inc. priced a C$3.4 million non-brokered private placement of shares.
The company plans to sell 2 million shares at C$1.70 each to Sprott Asset Management.
The company may pay a 5% cash finder's fee to Credibolsa SAB SA and a number of warrants equal to 5% of the number of shares sold by Sprott. The warrants will be exercisable 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$3.4 million
|
| Shares: | 2 million
|
| Price: | C$1.70
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Sprott Asset Management
|
| Pricing date: | Dec. 21
|
| Stock symbol: | TSX Venture: IPR
|
| Stock price: | C$1.80 at close Dec. 20
|
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