By Devika Patel
Knoxville, Tenn., July 23 - Aurcana Corp. said it raised C$1.62 million in a non-brokered private placement of units. The deal priced for up to C$6 million on June 24.
The company sold 6,485,000 units of one common share and one warrant at C$0.25 per unit. Each warrant will be exercisable at C$0.40 for three years.
Proceeds will be used for debt repayment, general working capital purposes and continued permitting for the company's Shafter Silver Mine.
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$1,621,250
|
| Units: | 6,485,000
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | June 24
|
| Settlement date: | July 23
|
| Stock symbol: | TSX Venture: AUN
|
| Stock price: | C$0.29 at close June 23
|
| Market capitalization: | C$27.15 million
|
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