Website - http://www.incapacific.com/s/Home.asp
Number Trading -
Expiration Date - Sept. 19, 2005.
Cusip - 45324A 12 7
Warrants called to trade news:
Inca Pacific clarifies consolidation of warrants
2005-06-13 16:36 MT - News Release
Inca Pacific Resources Inc.'s common shares and warrants, effective at the open of trading on June 13, 2005, were halted. The trading halt was requested by the company to clarify the information contained in its news as reported in Stockwatch on Nov. 5, 2005, respecting its trading warrants.
On Nov. 5, 2004, the company announced that it had consolidated its common shares on the basis of 10 (old) shares for one (new) share. The press release stated that Inca's outstanding trading warrants would be adjusted by the consolidation ratio so that 10 warrants and $1.50 would entitle a warrantholder to purchase one common share of the company (as opposed to one warrant and 15 cents preconsolidation). The number of warrants outstanding would therefore remain the same. The company applied for and received a new CUSIP number and trading symbol for the warrants.
Upon resumption of trading, however, the warrants commenced trading on a consolidated basis. The market price of the warrants reflected the consolidation and new warrant certificates were issued for the consolidated number of warrants. The warrant certificates stated that one warrant and $1.50 would entitle the holder to one common share of the company, and the total number of warrants outstanding was reduced from 10 million to one million.
The company is of the view that the consolidation of the warrants has been reflected in the market price of the warrants. The company does not, therefore, intend to take steps to reverse the consolidation of the warrants. The company is issuing this press release to clarify the information in its news as reported in Stockwatch on Nov. 5, 2005, so that all shareholders are aware of the terms of the warrants on a postconsolidation basis. The 10 million trading warrants previously outstanding have been consolidated into one million warrants. The one million warrants currently outstanding are exercisable until Sept. 19, 2005. One warrant and $1.50 will entitle a warrantholder to purchase one additional common share of the company at any time up until Sept. 19, 2005.
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