Inca Minerals Limited Announces Capital Raise of $800,000

Highlights:

• Inca Minerals Limited (ASX: ICG) plans to raise $800,000 through the issue of 200,000,000 shares at $0.004 per share, offering a 20% discount to the last trading price as of September 26, 2024.
• One attaching option will be issued for every two shares subscribed, with an expiry date of April 30, 2026, and an exercise price of $0.008.
• Funds will be used to advance Inca Minerals' projects in Australia, seek new value-adding opportunities, and support general working capital.

Inca Minerals Limited (ASX: ICG) has announced plans to raise up to $800,000 through a share placement aimed at sophisticated investors. The capital raise will be conducted by issuing 200,000,000 shares at a price of $0.004 per share, which represents a 20% discount to the last trading price on September 26, 2024, and a 16.1% discount to the 20-day volume-weighted average price (VWAP) (at the time of writing).

Details of the Placement

The share placement will also include one attaching option for every two shares subscribed. These options will have an expiry date of April 30, 2026, with an exercise price of $0.008. Directors Bradley Marwood and Andrew Haythorpe have also committed to participating in the placement on the same terms as other investors.

Approval and Use of Funds

The issuance of the shares and options will be subject to shareholder approval at an upcoming general meeting. Inca Minerals plans to allocate the raised funds towards advancing its Australian projects, searching for new value-adding opportunities, and supporting general working capital needs.

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