- Aurcana Silver Corp. (AUN) has closed the first tranche of a non-brokered private placement for gross proceeds of $5.298 million
- The second tranche of the offering will be closing in the near future
- The private placement consists of up to 17,142,857 units at a price of C$0.35 per unit
- The net proceeds will provide contingency funding for the restart of the company’s wholly owned Revenue Virginius (RV) Mine
- Aurcana owns the Revenue-Virginius Mine, in Colorado, and the Shafter-Presidio Silver Project in Texas
- Shares of Aurcana Silver Corporation (AUN) opened trading at C$0.32
Aurcana Silver Corp. (AUN) has closed the first tranche of a non-brokered private placement for gross proceeds of $5.298 million.
The second tranche of the offering will be closing in the near future. The private placement consists of up to 17,142,857 units at a price of C$0.35 per unit. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional share at a price of C0.525 for a period of 36 months following the closing of the offering.
Kevin Drover, President and CEO of Aurcana, has participated in the private placement by acquiring 1,428,571 units for total consideration of $500,000.
The net proceeds will provide contingency funding for the restart of the company’s wholly-owned Revenue Virginius (RV) Mine as well as funding for growth of the resource base at the RV Mine.
Aurcana Silver Corporation owns the Revenue-Virginius Mine, in Colorado, and the Shafter-Presidio Silver Project in Texas.
Shares of Aurcana Silver Corporation (AUN) opened trading at C$0.32.