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Aurcana has announced the closure of an unmediated second private placement tranche for a total of $ 5,972,725. CanadianBusinessJournal

Not for distribution to or in the United States Newswire Services

Vancouver, British Columbia, February 28, 2022 (GLOBE NEWSWIRE) — AURCANA SILVER CORPORATION (“All Kana” or “society“) (TSXV: AUN) announces that it has completed the second and final tranche of a non-mediated private placement (“).Private placementIt was announced on February 1, 2022, subject to the approval of the TSX Venture Exchange. The second tranche consists of 1,926,857 units at a price of $ 0.35 per unit, for a total of $ 674,399.95. The combined first and second tranches totaled 17,064,928 units, raising a total of $ 5,972,724.80.

Each unit consists of one share of our common stock and one share of common stock purchase warrant (“warrant”), Each warrant grants holders the right to purchase one share of common stock at a price of C $ 0.525 for 36 months after the end of the private placement, subject to the adjustment of certain customary events.

Privately placed net revenues will be used to fund the reopening of our wholly owned Revenue Virginius (RV) mine and to grow the resource base of the RV mine, which may allow us to increase future production. Provide funding for. Net income will also be used for working capital and general and administrative expenses, including potential opportunities to advance a fully owned shuffler project in the light of current silver prices.

Units are issued on a private placement basis in accordance with applicable exemptions from the requirements of the prospectus under the applicable securities law. Common stock and warrants (and common stock issued in accordance with the warrants, if applicable) are subject to a statutory holding period of four months and one day from the date of issue of the unit. The first tranche hold period expires on June 2, 2022, and the second tranche hold period expires on June 29, 2022.

We paid a total of C $ 243,558 as a finder fee and issued a total of 695,880 proxy warrants (“Agent warrantEach agent’s warrant grants its holders the right to purchase one share of common stock at a price of C $ 0.525 for 36 months from the date of issue.

This press release does not constitute a solicitation to sell or buy securities in the United States, nor does it constitute a sale of securities in jurisdictions where such an offer, solicitation, or sale is illegal. The security was not registered under the Securities Act of 1933 and will not be registered in the future.Securities Act 1933”), Or may not be offered or sold in the United States unless it is registered under the Securities Act of 1933 and an applicable exemption from the applicable securities law or registration requirements of the United States is available. ..

About AURCAN CORPORATION

Aurcana Corporation owns Revenue-Virginius Mine in Colorado and the Shafter-Presidio Silver Project in Texas, USA. Shafter and Revenue-Virginius’ main resource is silver. Both are fully licensed for production.

On behalf of the Board of Directors of AURCAN CORPORATION

“”Kevin Drawbar
President and CEO

For more information, please visit the www.aurcana.com website or contact us at:

All Kana Co., Ltd.
850 –789 West Pender Street
Vancouver, British Columbia V6C1H2
Phone number: (604) 331-9333

Precautions

This press release contains forward-looking statements within the meaning of applicable securities law. “Expect”, “Plan”, “Continue”, “Expect”, “Estimate”, “Objective”, “May”, “Do”, “Plan”, “Should” , “Predictive”, “potential” and similar expressions are intended to identify forward-looking statements. In particular, this press release contains a statement regarding the future outlook for statements related to private placements, including the timing of the closure of private placements. We believe that the expectations and assumptions underlying our forward-looking statements are reasonable, but we cannot provide any guarantee that they are correct and therefore overstated our forward-looking statements. You shouldn’t put your trust in it. Forward-looking statements correspond to future events and circumstances and therefore carry inherent assumptions, risks, and uncertainties. Actual results may differ materially from those currently expected due to many assumptions, factors, and risks. These assumptions and risks include, but are not limited to, assumptions and risks related to the receipt of regulatory or shareholder approval, as well as risks related to financial market conditions or future metal prices.

Management has provided the above summary of risks and assumptions associated with forward-looking statements in this press release to provide readers with a more comprehensive view of our future business. Our actual results, performance or performance may differ materially from those expressed or implied in these forward-looking statements and therefore any of the events expected by these forward-looking statements. Cannot be guaranteed to occur or occur. If any of them do so, what benefits does the company benefit from them? These forward-looking statements have been made as of the date of this press release and we disclaim any intent except as required by applicable securities law. Obligation to publicly update forward-looking statements, whether as a result of new information, future events or consequences.

Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity or accuracy of this release.


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Aurcana has announced the closure of an unmediated second private placement tranche for a total of $ 5,972,725. CanadianBusinessJournal

Source link Aurcana has announced the closure of an unmediated second private placement tranche for a total of $ 5,972,725. CanadianBusinessJournal

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