Aurcana Closes Non-Brokered Private Placement

- July 23rd, 2010

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.

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.

Click here to access the entire press release

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2 responses to “Aurcana Closes Non-Brokered Private Placement

  1. In my opinion ,The world’s best developing lithium investment is Nemaska Lithium with the highest grade and one of the largest measured spodumene deposits in the world. .Add to that is a final feasibility study coming out before years end on both the open pit mine and the Lithium Hydroxide – Lithium Carbonate processing facility. Less than half as many shares out as Canada Lithium .NMX is already owned 20% by their eventual end user ,which is a major Chinese battery maker.
    If NMX is guilty of doing something wrong,it would be promotion.Other than that,a very well run developing junior miner.

  2. In my opinion ,The world’s best developing lithium investment is Nemaska Lithium with the highest grade and one of the largest measured spodumene deposits in the world. .Add to that is a final feasibility study coming out before years end on both the open pit mine and the Lithium Hydroxide – Lithium Carbonate processing facility. Less than half as many shares out as Canada Lithium .NMX is already owned 20% by their eventual end user ,which is a major Chinese battery maker.
    If NMX is guilty of doing something wrong,it would be promotion.Other than that,a very well run developing junior miner.

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