Standard Tolling Closes Inca One Private Placement
![Standard Tolling Closes Inca One Private Placement](https://www.minenportal.de/media/goldseiten-news.jpg)
As announced on October 7, 2015, the Company entered into a binding letter of intent (“Binding LOI”) on October 6, 2015, pursuant to which Inca One has agreed to acquire all of the issued and outstanding shares of Standard Tolling under a plan of arrangement at a share exchange ratio of 0.55 shares of Inca One for each one share of Standard Tolling (the “Transaction”) which is approximately a 23% premium to Standard Tolling’s share price based on the 10 day volume weighted average share price of the parties through October 6, 2015.
The Transaction, and finalization of the Definitive Agreement, is subject to the satisfactory completion of due diligence by the parties, shareholder approval by Standard Tolling, board approval by each of Standard Tolling and Inca One, TSX Venture Exchange approval, court approval, and other customary conditions. The Binding LOI also includes standstill, lock up, and confidentiality provisions, representations and warranties, and a $250,000 break fee in favor of Inca One.
ON BEHALF OF THE BOARD
“Len Clough”
Mr. Len Clough, Chairman, President, CEO and Director
For further information please contact:
Standard Tolling Corp.
Tel: 866-222-5820 ext 101 for John Martin
Email: info@standardtolling.com
www.standardtolling.com
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 release.
Source: Standard Tolling Corp. (TSX Venture:TON, FWB:GA0)
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