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Aurcana Announces US$40,000,000 Silver Backed Unit Offering
Aurcana Corporation (TSX VENTURE:AUN) reported that subject to TSX Venture Exchange approval, the Company will conduct on a best efforts basis, a non-brokered private placement of the issuance of up to 40,000 units consisting of silver-secured notes and common share purchase warrants at a purchase price of US$1,000 per Unit for gross proceeds to Aurcana of US$40,000,000.
Aurcana Corporation (TSX VENTURE:AUN) reported that subject to TSX Venture Exchange approval, the Company will conduct on a best efforts basis, a non-brokered private placement of the issuance of up to 40,000 units consisting of silver-secured notes and common share purchase warrants at a purchase price of US$1,000 per Unit for gross proceeds to Aurcana of US$40,000,000.
The press release is quoted as saying:
The Shafter Silver Mine is scheduled to start up production within 18 months of securing permits and financing, producing 3.9 million ounces silver in the first year.
Click here to access the entire press release
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