Inca One Receives Extension of Stay Period

Rhea-AI Summary

Inca Gold Corp. (TSXV: INCA.H) has announced an extension of the Stay Period under the Companies Creditors Arrangement Act (CCAA) until October 7, 2024. This extension was granted by the Supreme Court of British Columbia through a Second Amended and Restated Initial Order. The company had previously issued press releases on June 4, June 14, and July 25, 2024, regarding the CCAA proceedings. Investors and stakeholders can find additional information about the CCAA proceeding on the Monitor's website. This development indicates that Inca Gold Corp. is continuing to navigate financial challenges and restructuring efforts under court protection.

Positive

• None.

Negative

• Company remains under CCAA protection, indicating ongoing financial distress
• Extension of Stay Period suggests prolonged restructuring process
• Potential negative impact on shareholder value due to creditor proceedings

Vancouver, British Columbia--(Newsfile Corp. - August 27, 2024) - Inca Gold Corp. (TSXV: INCA.H) (the "Company") announces that, further to the Company's June 4, 2024, June 14, 2024 and July 25, 2024 press releases 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 until October 7, 2024.

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

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/221344

FAQ

What is the new Stay Period extension date for Inca Gold Corp (TSXV: INCA.H)?

The Supreme Court of British Columbia has extended the Stay Period for Inca Gold Corp (TSXV: INCA.H) until October 7, 2024, under the Companies Creditors Arrangement Act (CCAA).

When did Inca Gold Corp (TSXV: INCA.H) initially announce its CCAA proceedings?

Inca Gold Corp (TSXV: INCA.H) initially announced its CCAA proceedings in press releases dated June 4, June 14, and July 25, 2024.

Where can investors find more information about Inca Gold Corp's (TSXV: INCA.H) CCAA proceedings?

Investors can find additional information about Inca Gold Corp's (TSXV: INCA.H) CCAA proceedings on the Monitor's website at http://cfcanada.fticonsulting.com/incaone.