Inca One Gold Corp. (TSX-V:INCA), CCAA

Inca One Gold Corp. (TSX-V:INCA), a Vancouver, British Columbia-based industrial services, manufacturing and trading company to the Artisanal Small-Scale Miners market in Peru, obtained CCAA protection on June 3.

The company conducts its operations through various foreign subsidiaries and is charged with overseeing strategy and finance for the Inca Group. It owns two Peruvian gold milling facilities located within the Nazca-Ocona gold belt in Southern Peru through subsidiaries that are not petitioners in the CCAA proceedings.

According to the company, Inca One's senior secured and largest creditor, OCIM Mines and Minerals SA, which is currently owed approximately US$10 million, was expected to provide an additional $15 million facility to Inca One, but this failed to materialize.

Throughout April and May, OCIM and Equinox Gold Corp. ("Equinox"), a 20% percent shareholder in Inca One that is owed $7.1 million, issued demands and reservations of rights related to their debts. As a result, the CCAA proceedings are required to maintain the status quo while Inca One explores and implements a restructuring strategy.

FTI is the monitor.

Counsel is Bridgehouse Law for Inca One, DLA Piper for the monitor, Dentons for OCIM and Blakes for Equinox.