Inca One Announces Extension of Stay Period

Rhea-AI Summary

Inca One Gold Corp. (TSXV: INCA.H, OTC Pink: INCAF, FSE: SU92) announced that the Supreme Court of British Columbia has extended the Stay Period under the Initial Order until July 22, 2024. This decision follows the company's earlier press release on June 4, 2024. Investors can find additional information regarding the CCAA proceeding on the Monitor's website.

Positive

• The Supreme Court of British Columbia's decision to extend the Stay Period provides Inca One more time to address its financial restructuring.
• Continued legal protection under CCAA allows Inca One to develop a more comprehensive plan for its creditors and stakeholders.

Negative

• The extension of the Stay Period indicates ongoing financial instability and restructuring challenges for Inca One.
• The need for court intervention and protection under CCAA suggests significant financial distress and potential risks for shareholders.
• Uncertainty surrounding the company's financial health may negatively impact investor confidence and stock performance.

Vancouver, British Columbia--(Newsfile Corp. - June 14, 2024) - INCA ONE GOLD CORP. (TSXV: INCA.H) (OTC Pink: INCAF) (FSE: SU92) ("Inca One" or the "Company") announces that, further to the Company's June 4, 2024 press release, on June 13, 2024, the Supreme Court of British Columbia extended the Stay Period under the Initial Order until July 22, 2024.

Additional information regarding the CCAA proceeding can be found on the Monitor's website at http://cfcanada.fticonsulting.com/incaone.

About Inca One

Inca One Gold Corp is an established gold producer operating two permitted, gold mineral processing facilities in Peru. The Company possesses a combined 450 TPD permitted operating capacity at its two fully integrated plants, Chala One and Kori One, generating over US$200 million in sales from its processing operations. Inca One is led by an experienced and capable management team that has established the Company as a trusted leader in servicing permitted, Artisanal and Small-scale Gold Miners (ASGM). Peru is one of the world's largest producers of gold, and its ASGM sector is estimated by government officials to be valued in the billions of dollars annually. Through the Company's partnerships with the UN backed PlanetGold Program and the Swiss Better Gold Initiative, Inca One supports the sustainable development and mining practices of the ASGM sector and the responsible gold supply chain from mine to market. To learn more, visit www.incaone.com.

Figure 1. Inca One's gold processing facilities in Peru (left: Chala One facility; right: Kori One facility

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2645/213065_f59ec6f0649eaad7_001full.jpg

On behalf of the Board,

Edward Kelly
President and CEO
Inca One Gold Corp.

For More Information Contact:

Konstantine Tsakumis
ktsakumis@incaone.com
604-568-4877

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/213065

FAQ

What is the significance of the Stay Period extension for INCAF?

The extension of the Stay Period allows Inca One more time to address its financial restructuring under the protection of the Supreme Court of British Columbia.

When was the Stay Period for INCAF extended?

The Stay Period was extended on June 13, 2024, until July 22, 2024.

Where can investors find additional information about INCAF's CCAA proceeding?

Investors can find additional information regarding the CCAA proceeding on the Monitor's website at http://cfcanada.fticonsulting.com/incaone.

What is the impact of the Stay Period extension on INCAF's stock performance?

The extension may signal financial instability, potentially affecting investor confidence and stock performance negatively.