Aurcana Rejects Credit Facility, Faces Lawsuit

Reuters reported that the board of Aurcana Corp (TSXV:AUN) opposed a costly credit facility, causing the lender to file a lawsuit.

The market news is quoted as saying:

Aurcana said it had signed a non-binding agreement with the lenders on Oct. 26 and the only obligation it had, if it did not proceed with the credit facility, was privacy, confidentiality, jurisdiction and the payment of legal fees.

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