Inca One Announces Extension of Stay Period and DIP Loan Agreement
Inca One Gold Corp (TSXV: INCA.H, OTC: INCAF) has announced an extension of its Stay Period under the Companies Creditors Arrangement Act (CCAA) until August 26, 2024. The company has also secured a Debtor-In-Possession Term Loan (DIP Loan) of up to US$1 million for working capital and CCAA-related costs.
The DIP Loan includes two tranches: US$750,000 and US$250,000, with a 5% drawdown fee and 20% annual interest rate. In connection with the loan, Inca One will issue 5 million share purchase warrants at C$0.10 per share, valid for 12 months.
The company's plants are currently on care and maintenance as it prepares to restart operations post-CCAA. Inca One is using this period to restructure existing liabilities and secure new funding, aiming to capitalize on the robust gold price and strengthening precious metals market.
Inca One Gold Corp (TSXV: INCA.H, OTC: INCAF) ha annunciato un'estensione del suo Period di Sospensione ai sensi della Legge sul Concordato dei Creditori (CCAA) fino al 26 agosto 2024. L'azienda ha inoltre ottenuto un Prestito per Debitori in Possesso (Prestito DIP) fino a 1 milione di dollari USA per capitale circolante e costi legati al CCAA.
Il Prestito DIP comprende due tranche: 750.000 dollari USA e 250.000 dollari USA, con una commissione di prelievo del 5% e un tasso d'interesse annuale del 20%. In relazione al prestito, Inca One emetterà 5 milioni di warrant di acquisto azioni a 0,10 C$ per azione, validi per 12 mesi.
Attualmente gli impianti dell'azienda sono in fase di assistenza e manutenzione mentre si prepara a riavviare le operazioni dopo il CCAA. Inca One sta utilizzando questo periodo per ristrutturare le passività esistenti e ottenere nuovi finanziamenti, puntando a capitalizzare sul prezzo dell'oro robusto e sul rafforzamento del mercato dei metalli preziosi.
Inca One Gold Corp (TSXV: INCA.H, OTC: INCAF) ha anunciado una extensión de su Período de Suspensión bajo la Ley de Arreglos de Acreedores de Empresas (CCAA) hasta el 26 de agosto de 2024. La compañía también ha asegurado un Préstamo para Deudores en Posesión (Préstamo DIP) de hasta 1 millón de dólares estadounidenses para capital de trabajo y costos relacionados con el CCAA.
El Préstamo DIP incluye dos tramos: 750.000 dólares estadounidenses y 250.000 dólares estadounidenses, con una tarifa de desembolso del 5% y una tasa de interés anual del 20%. En relación con el préstamo, Inca One emitirá 5 millones de garantías de compra de acciones a 0,10 C$ por acción, válidas por 12 meses.
Las plantas de la compañía están actualmente en cuidado y mantenimiento mientras se preparan para reiniciar las operaciones post-CCAA. Inca One está utilizando este período para reestructurar las deudas existentes y asegurar nuevos financiamientos, con el objetivo de capitalizar sobre el sólido precio del oro y el fortalecimiento del mercado de metales preciosos.
인카 원 골드 코프 (TSXV: INCA.H, OTC: INCAF)는 기업 채권자 합의법(CCAA)에 따라 유예 기간을 2024년 8월 26일까지 연장한다고 발표했습니다. 이 회사는 또한 채무자 소유의 허가 대출 (DIP 대출)로 최대 100만 달러 미국을 확보하여 운영 자본과 CCAA 관련 비용을 지원합니다.
DIP 대출에는 75만 달러와 25만 달러의 두 가지 분할 상환이 포함되며, 5%의 출금 수수료와 20%의 연 이자율이 적용됩니다. 대출과 관련하여 인카 원은 500만 개의 주식 매수 워런트를 주당 0.10 C$에 발행하며, 유효 기간은 12개월입니다.
회사의 플랜트는 현재 유지 관리 중이며 CCAA 이후 운영 재개를 준비하고 있습니다. 인카 원은 이 기간을 이용하여 기존 부채를 재구성하고 신규 자금을 확보하며, 강력한 금 가격과 강화되는 귀금속 시장을 활용하는 것을 목표로 하고 있습니다.
Inca One Gold Corp (TSXV: INCA.H, OTC: INCAF) a annoncé une prolongation de sa Période de Suspension en vertu de la Loi sur les arrangements de créanciers des entreprises (CCAA) jusqu'au 26 août 2024. L'entreprise a également sécurisé un Prêt pour débiteurs en possession (Prêt DIP) pouvant atteindre 1 million de dollars US pour le fonds de roulement et les coûts liés au CCAA.
Le Prêt DIP comprend deux tranches : 750 000 dollars US et 250 000 dollars US, avec des frais de tirage de 5 % et un taux d'intérêt annuel de 20 %. En relation avec le prêt, Inca One émettra 5 millions de bons de souscription d'actions à 0,10 C$ par action, valables pendant 12 mois.
Les usines de l'entreprise sont actuellement en régime de soins et d'entretien alors qu'elle se prépare à redémarrer ses opérations après le CCAA. Inca One utilise cette période pour restructurer ses dettes existantes et obtenir de nouveaux financements, visant à tirer parti du prix élevé de l'or et du renforcement du marché des métaux précieux.
Inca One Gold Corp (TSXV: INCA.H, OTC: INCAF) hat eine Verlängerung seiner Aufschubzeit gemäß dem Unternehmen Gläubiger Vereinbarungsgesetz (CCAA) bis zum 26. August 2024 angekündigt. Das Unternehmen hat zudem einen Darlehen für Schuldner in Besitz (DIP-Darlehen) von bis zu 1 Million US-Dollar für Betriebskapital und CCAA-bezogene Kosten gesichert.
Das DIP-Darlehen umfasst zwei Tranchen: 750.000 US-Dollar und 250.000 US-Dollar, mit einer Abhebungsgebühr von 5% und einem jährlichen Zinssatz von 20%. Im Zusammenhang mit dem Darlehen wird Inca One 5 Millionen Aktienkaufoptionsscheine zu einem Preis von 0,10 C$ pro Aktie ausgeben, die 12 Monate gültig sind.
Die Unternehmenanlagen befinden sich derzeit in Pflege- und Wartungsmodus, während die Betriebsaufnahme nach dem CCAA vorbereitet wird. Inca One nutzt diese Zeit, um bestehende Verbindlichkeiten umzustrukturieren und neue Finanzierungen zu sichern, mit dem Ziel, von den robusten Goldpreisen und dem sich stärkenden Edelmetallmarkt zu profitieren.
- Secured DIP Loan of up to US$1 million for working capital and CCAA-related costs
- Extended Stay Period until August 26, 2024, providing more time for restructuring
- Preparing to restart operations post-CCAA proceedings
- Potential to benefit from robust gold prices and strengthening precious metals market
- Company forced to enter CCAA proceedings, indicating financial distress
- Both plants currently on care and maintenance, not generating revenue
- High interest rate of 20% per annum on the DIP Loan
- Potential dilution for existing shareholders due to issuance of 5 million warrants
Vancouver, British Columbia--(Newsfile Corp. - August 1, 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 and June 14, 2024 press releases, on July 25, 2024 and pursuant to the Companies Creditors Arrangement Act ("CCAA"), the Supreme Court of British Columbia extended the Stay Period under a Second Amended and Restated Initial Order (the "Second ARIO") until August 26, 2024.
DIP Loan
The Second ARIO approved the Company to enter into an interim financing to be provided by a private lender in the form of a Debtor-In-Possession Term Loan ("DIP Loan") for the principal sum of up to US
The DIP Loan will be for general working capital, including legal, restructuring, administrative and general corporate costs in connection with the CCAA proceedings and the Court approved cashflows.
The DIP Loan will have priority security ranking over all secured creditors.
The terms of the DIP Loan will allow Inca One to drawdown funds in two tranches, the first in the amount of US
In connection with the DIP Loan, the Company will issue an aggregate of 5,000,000 share purchase warrants (the "Warrants") to the lender. Each Warrant entitles the holder to purchase one common share of the Company at an exercise price of C
Since the Company was forced to enter CCAA, it has made significant efforts to reduce costs. Currently both plants are on care and maintenance and preparing to restart operations once the Company emerges from CCAA proceedings.
With a robust gold price and strengthening precious metals market Inca One is using the time granted by the CCAA process to restructure its existing liabilities and secure a significant new funding package.
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
Figure 1. Inca One's gold processing facilities in Peru (left: Chala One facility; right: Kori One facility
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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/218612
FAQ
What is the current status of Inca One Gold Corp's CCAA proceedings?
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