By Devika Patel
Knoxville, Tenn., Oct. 15 - Aurcana Corp. said it will take in C$3.3 million in a non-brokered private placement of units.
The company will sell 15 million units of one common share and one warrant at C$0.22 apiece. Each warrant will be exercisable at C$0.35 for 18 months.
Proceeds will be used to expand the La Negra Mine to 1,500 tons per day for feasibility and to permit work at the Shafter Mine and general working capital.
Aurcana is a mineral exploration company based in Vancouver, B.C.
| Issuer: | Aurcana Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3.3 million
|
| Units: | 15 million
|
| Price: | C$0.22
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.35
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 15
|
| Stock symbol: | TSX Venture: AUN
|
| Stock price: | C$0.285 at close Oct. 14
|
| Market capitalization: | C$29.3 million
|
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