Aurcana Amends Private Placement Terms
2014年6月5日 - 8:59PM
Marketwired Canada
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES
Aurcana Corporation ("Aurcana" or the "Company") (TSX VENTURE:AUN)(OTCQX:AUNFF)
announces that it has amended the terms of its marketed underwritten private
placement as previously announced on April 28, 2014.
Aurcana has engaged Dundee Securities Ltd. (the "Underwriter") to act as a sole
underwriter in connection with a marketed underwritten private placement of an
aggregate of up to 8,000,000 units (each unit a "Unit") of the Company at a
reduced purchase price of Cdn$0.55 per Unit (the "Purchase Price") for reduced
aggregate gross proceeds to the Company of up to Cdn$4,400,000 (the "Offering").
Each Unit will consist of one common share (a "Share") of the Company and one
common share purchase warrant (each a "Warrant"). Each Warrant will entitle the
holder to purchase an additional common share (a "Warrant Share") of the Company
at a reduced exercise price of Cdn$0.80 per Warrant Share for a period of 36
months from the closing of the Offering.
In addition, Aurcana, will grant to the Underwriter an option (the
"Over-Allotment Option") to purchase up to an additional 1,200,000 Units (for
additional gross proceed of Cdn$660,000) exercisable at the Purchase Price at
any time in whole or in part up to 48 hours prior to the closing date. If this
option is exercised in full, the aggregate gross proceeds to Aurcana will be
Cdn$5,060,000.
In consideration for the services provided by the Underwriter to the Company
under the Offering, the Company will pay to the Underwriter a commission of 6%
of the gross proceeds raised under the Offering, including any Units sold under
the Over-Allotment Option payable by the issuance of Units. In addition, the
Company will issue to the Underwriter a compensation warrant which entitles the
Underwriter to purchase such number of common shares of the Company as is equal
to 6% of the number of Units sold under the Offering, including any Units sold
under the Over-Allotment Option, exercisable at the Purchase Price for a period
of 24 months from the Closing.
The net proceeds from the Offering will be used for the acquisition of mining
equipment at the La Negra mine, exploration drilling at the La Negra property
and for general working capital purposes.
Completion of the Offering is scheduled for on or about June 24, 2014, subject
to the receipt of all necessary regulatory approvals, including the approval of
the TSX Venture Exchange. All securities issued in connection with the Offering
will be subject to a hold period under applicable securities laws expiring four
months and one day following issuance of the securities.
The offer and sale of the securities offered in the Offering has not been and
will not be registered under the U.S. Securities Act of 1933, as amended, or any
state securities laws, and such securities may not be offered or sold in the
United States absent registration or an applicable exemption from such
registration requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy the securities in the United States
or in any jurisdiction in which such offer, sale or solicitation would be
unlawful.
About Aurcana Corporation
Aurcana Corporation is a primary silver producing company with two properties:
the La Negra Mine in Mexico and the Shafter Mine in Texas, US. The latter was
put on care and maintenance in December 2013, in part due to depressed silver
prices. The Company continues to plan further expansion at its La Negra Mine and
to focus on surface exploration on its extensive land holdings in the Maconi
Mining District.
Corporate
The Company's shares are also traded in the United States on OTCQX under the
symbol "AUNFF". Investors can find current financial disclosure and Real-Time
Level 2 quotes for the Company on www.otcqx.com and www.otcmarkets.com.
Lenic Rodriguez, President & CEO, AURCANA CORPORATION
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.
This news release contains certain forward-looking statements, including
statements regarding the completion of the Offering and the use of net proceeds
of the Offering, future plans and objectives of the Company.
Any statements that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions or future
events or performance (often, but not always, using words or phrases such as
"expects" or does not expect", "is expected", "anticipates" or "does not
anticipate" "plans", "estimates" or "intends" or stating that certain actions,
events or results "may", "could", "would", "might" or "will" be taken, occur or
be achieved) are not statements of historical fact and may be "forward-looking
statements". Forward-looking statements are subject to a variety of risks and
uncertainties which could cause actual events or results to materially differ
from those reflected in the forward-looking statements.
Actual results may differ materially from results contemplated by the
forward-looking statements. Important factors that could differ materially from
the Company's expectations include, among others, risks related to international
operations, unsuccessful exploration results, the ability of suppliers to
provide equipment, the availability of skilled labour, conclusions of economic
evaluations and changes in project parameters as plans continue to be refined as
well as changes in metal prices, changes in the availability of funding for
mineral exploration and development, unanticipated changes in key management
personnel and general economic conditions. When relying on forward-looking
statements to make decisions, investors and others should carefully consider the
foregoing factors and other uncertainties and should not place undue reliance on
such forward-looking statements. The Company does not undertake to update any
forward-looking statements, oral or written, made by itself or on its behalf,
except as required pursuant to applicable securities laws. Accordingly, readers
should not place undue reliance on forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Aurcana Corporation
Lenic Rodriguez
President & CEO
(604) 331-9333 or Toll Free: (866) 532-9333
(604) 633-9179 (FAX)
ir@aurcana.com
www.aurcana.com
Gary Lindsey
Investor Relations
720-273-6224
gary@strata-star.com
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