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Gold/Mining/Energy : Aurcana Corporation - AUN.V
AUNFF 0.010000.0%Apr 19 5:00 PM EST
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To: Activatecard who wrote (10)2/21/2012 10:44:37 AM
From: Sultan  Read Replies (1) of 300
 
Aurcana Increases Ownership of La Negra Mine to 99.86%

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 20, 2012) - Aurcana Corporation ("Aurcana" or the "Company") (TSX VENTURE: AUN.V - News)(OTCQX: AUNFF.PK - News)(PINK SHEETS: AUNFF.PK - News) is pleased to report it has increased its ownership in Real de Maconi S.A. de C.V. ("Real Maconi") from 92% to 99.86% as a result of a recent capital restructure of Real de Maconi. Real Maconi holds a 99.99% interest (one share representing a .00002% interest is held by a third party) in Minera La Negra S.A. de C.V. which has a 100% interest in the La Negra Mine.

The capital restructure was the result of Real De Maconi's 2010 audit wherein Mexican Tax Authorities required Real de Maconi to reclassify certain accounting transactions resulting in a reclassification and roll back of the capitalization of the equity accounts. The result of the roll back increased Aurcana's ownership of Real de Maconi to 99.86% leaving a minority interest of .14% to a third party.

Corporate

The Company's shares are now 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 and www.otcmarkets.com.

finance.yahoo.com
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