Inca Minerals' Capital Raising Announcement

Inca Minerals Limited (ASX:ICG) has announced its intention to raise up to $800,000 through a share placement to sophisticated investors. The capital raising will involve the issuance of up to 200,000,000 shares at an issue price of $0.004, with the additional issuance of Placement Options. Directors Bradley Marwood and Andrew Haythorpe also plan to support the Placement on the same terms as non-related party investors. The funds raised will be utilized for advancing the Company's projects in Australia, seeking new value-adding projects, and general working capital. Shareholder approval for the issuance of Placement Shares and Placement Options will be sought at an upcoming general meeting of shareholders.

Executive Commentary

The Company is pleased to have received strong expressions of interest from sophisticated investors, which reflects confidence in our projects and the potential for new mineral discoveries in Australia. We believe that the proposed capital raising will provide the necessary financial support to advance our projects and explore new opportunities, ultimately contributing to the growth and development of Inca Minerals. The support from our directors further underscores their commitment to the Company's objectives and future prospects.

Summary of Capital Raising Announcement

Inca Minerals Limited (ASX:ICG) has announced a capital raising initiative to raise up to $800,000 through a share placement to sophisticated investors. The funds raised will be directed towards advancing the Company's projects in Australia, seeking new value-adding projects, and general working capital. The issuance of Placement Shares and Placement Options is subject to shareholder approval, which will be sought at an upcoming general meeting of shareholders. The Company's focus on targeting new tier-1 mineral discoveries in Australia is evident through this strategic move, reflecting its commitment to exploration and growth. The proposed capital raising is expected to provide the necessary financial resources to support the Company's ambitions and contribute to its long-term corporate strategy.