Aurcana Announces $50 million Loan Facility
Aurcana Corporation (“Aurcana” or the “Company”) (TSXV: AUN, OTCQX: AUNFF) is pleased to announce that it has accepted an indicative terms sheet from RK Mine Finance, part of the Red Kite Group, one of the largest metal merchants in the world, for an unsecured 3 year loan facility of $50 million and silver Offtake Agreement for the silver produced at the Shafter mine.
The proceeds to be drawn down under the Debt Facility will be used by the Company for the expansion of the Company’s mines and working capital purposes.
The board of directors of Aurcana Corporation has approved the proposed term sheet. Closing of the transaction is subject to approval from RK Mine Finance’s Investment Committee and executing all final legal documents. Closing is expected to occur in July 2013.
About Aurcana Corporation
Aurcana Corporation is a primary silver producing company with two producing mines: La Negra Mine in Mexico and Shafter Mine in Texas, US. The Company is in a position to grow organically from its existing mines in its pursuit to become an emerging senior silver producer. Aurcana continues to focus on its future growth.
The Company’s shares are also traded in the United States on OTCQX under the symbol “AUNFF”. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcqx.com andwww.otcmarkets.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF
“Lenic Rodriguez”, President & CEO
For further information contact:
Lenic Rodriguez, President & CEO
Catalin Chiloflischi, Corporate Communications Director
Phone: (604) 331-9333
Toll Free: (866) 532-9333
Fax: (604) 633-9179
This news release may include certain forward-looking statements. These statements are forward-looking statements that involve various risks and uncertainties. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or does not expect”, “is expected”, anticipates” or “does not anticipate” “plans”, “estimates” or “intends” or stating that certain actions, events or results ” may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements.
Actual results may differ materially from results contemplated by the forward-looking statements. Important factors that could differ materially from the Company’s expectations include, among others, risks related to regulatory approval. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf, other than as required pursuant to applicable securities laws. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.