Aurcana Closes Non-Brokered Private Placement

Aurcana Corporation (TSX VENTURE:AUN) announced it has received approval from the TSX Venture Exchange and has closed its non-brokered private placement for 6,485,000 units at a price of $0.25 per Unit, for aggregate gross proceeds of CDN$1,621,250.

The press release is quoted as saying:

Each Unit consists of one share (a “Share”) and one common share purchase warrant. Each common share purchase warrant (a “Warrant”) permits the holder to purchase a further common share (a “Warrant Share”) for a period of 36 months from closing at a price of $0.40 per Warrant Share. Finders’ fees of 8% cash and 8% warrants at a price of $0.35 per warrant on the same terms as the Warrants were paid on a portion of the Financing, in accordance with the policies of the Exchange.

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