VANCOUVER, BRITISH COLUMBIA, Jun 14, 2013 (Menafn – Marketwired via COMTEX) –Aurcana Corporation (“Aurcana” or the “Company”) (otcqx:AUNFF) announces that the Company will be amending theterms of certain outstanding common share purchase warrants (the”Warrants”) which were issued as part of a private placement of unitsthat closed in June and July of 2010. An aggregate of 293,750 Warrants are outstanding, each of which, on a pre-amendment basis,entitles the holder thereof to acquire one common share of theCompany at an exercise price of 3.20 until June 30, 2013 (the”Expiry Date”).
The Company intends to amend the Warrants to reduce the exerciseprice of the Warrants from 3.20 to 2.49 and to extend the ExpiryDate of the Warrants from June 30, 2013 to June 30, 2015. Inaddition, the Warrants will be made subject to an accelerationprovision, pursuant to which the exercise term of the Warrants willbe shortened to 30 days if for a period of 10 consecutive tradingdays, the closing price of the Company’s Common shares on the TSXVenture Exchange exceeds 3.40 per share. The Company will issue apress release notifying the holders of Warrants if the exercise termis shortened.
The TSX Venture Exchange has advised the Company that it does notobject to the proposed amendments to the Warrants.
About Aurcana Corporation
Aurcana Corporation is a primary silver producing company with twoproducing mines: La Negra Mine in Mexico and Shafter Mine in Texas,US. The Company is in a position to grow organically from itsexisting mines in its pursuit to become an emerging senior silverproducer. Aurcana continues to focus on its future growth.
Corporate
The Company’s shares are also traded in the United States on OTCQXunder the symbol “AUNFF”. Investors can find current financialdisclosure and Real-Time Level 2 quotes for the Company onwww.otcqx.com and www.otcmarkets.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA CORPORATION
“Lenic Rodriguez”, President & CEO
NR-13-20
This news release contains certain forward-looking statements,including statements regarding the amendment of the Warrants. Thesestatements are forward-looking statements that involve various risksand uncertainties. Any statements that express or involve discussionswith 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” ordoes not expect”, “is expected”, anticipates” or “does notanticipate”, “plans”, “estimates” or “intends” or stating thatcertain actions, events or results ” may”, “could”, “would”, “might”or “will” be taken, occur or be achieved) are not statements ofhistorical fact and may be “forward-looking statements”.Forward-looking statements are subject to a variety of risks anduncertainties which could cause actual events or results tomaterially differ from those reflected in the forward-lookingstatements.
Actual results may differ materially from results contemplated by theforward-looking statements. Important factors that could differmaterially 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 shouldcarefully consider the foregoing factors and other uncertainties andshould not place undue reliance on such forward-looking statements.The Company does not undertake to update any forward-lookingstatements, oral or written, made by itself or on its behalf, otherthan as required pursuant to applicable securities laws. Accordingly,readers should not place undue reliance on forward-lookingstatements.
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.
Contacts:
Aurcana Corporation
Lenic Rodriguez
President & CEO
(604) 331-9333 or Toll Free: (866) 532-9333
Aurcana Corporation
Catalin Chiloflischi
Corporate Communications Director
(604) 331-9333 or Toll Free: (866) 532-9333
(604) 633-9179 (FAX)
[email protected]
www.aurcana.com
SOURCE: Aurcana Corporation
