By Laura Lutz
Washington, March 7 - Aurcana Corp. settled a non-brokered private placement of units for C$16 million and an upsized brokered private placement for C$5 million.
The company sold 4 million units in the brokered deal and 12.8 million units in the non-brokered deal.
Each unit consists of one share and one half-share warrant at C$1.25 per unit. Each whole warrant will be exercisable at C$1.85 for 18 months.
Expiry of the warrants may be accelerated to 30 days if the closing price of the company's shares is at least C$3.00 for 20 consecutive trading days at any time at least four months after settlement of the placement.
Canaccord Capital Corp. acted as lead agent for the brokered placement.
The deals priced on Feb. 13 as an C$11 million non-brokered offering and a C$4 million brokered offering. The non-brokered offering was upsized to C$16 million on Feb. 15.
Proceeds will be used to advance the company's La Negra Mine in Mexico, for acquisitions and for general capital.
Aurcana is a mineral exploration company based in Vancouver, B.C.
Brokered deal
Issuer: | Aurcana Corp.
|
Issue: | Units of one share and one half-share warrant
|
Amount: | C$5 million, upsized from C$4 million
|
Units: | 4 million
|
Price: | C$1.25
|
Warrants: | One half-share warrant per unit
|
Warrant expiration: | 18 months
|
Warrant strike price: | C$1.85
|
Agent: | Canaccord Capital Corp.
|
Pricing date: | Feb. 13
|
Settlement date: | March 7
|
Stock symbol: | TSX Venture: AUN
|
Stock price: | C$1.50 at close Feb. 13
|
Stock price: | C$1.25 at close March 7
|
|
Non-brokered deal
|
Issuer: | Aurcana Corp.
|
Issue: | Units of one share and one half-share warrant
|
Amount: | C$16 million, upsized from C$11 million
|
Units: | 12.8 million
|
Price: | C$1.25
|
Warrants: | One half-share warrant per unit
|
Warrant expiration: | 18 months
|
Warrant strike price: | C$1.85
|
Agent: | Non-brokered
|
Pricing date: | Feb. 13
|
Upsized: | Feb. 15
|
Settlement date: | March 7
|
Stock symbol: | TSX Venture: AUN
|
Stock price: | C$1.50 at close Feb. 13
|
Stock price: | C$1.32 at close Feb. 15
|
Stock price: | C$1.25 at close March 7
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.