April 19, 2016 / 10:17 PM / 2 years ago

BRIEF-Inca One Gold announces debt restructuring

April 19 (Reuters) - Inca One Gold Corp :

* Inca One Gold Corp announces debt restructuring and USD$3.0 million convertible debenture offering

* Negotiated preliminary terms and signed commitment letters with majority of company’s lenders

* Approximately 50 pct of debts will be converted to common shares at CAD$0.11 per share

* Approximately 30 pct of debts will be canceled and re-issued into new convertible debentures

* Restructuring will not result in creation of a new “control person”

* Signed commitment letters with lenders to convert or restructure about $10.0 million USD equivalent of current and long-term debts

* About 20 pct debts to be converted to contingent debts payable on some performance metrics being met by co, or warrant deposit held by co Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below