Aurcana Announces Share Consolidation Effective Apr 30, 2013
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 12, 2013) - Aurcana Corporation ("Aurcana" or the "Company") (TSX VENTURE:AUN)( AUNFF) is pleased to announce that further to its press release of March 28, 2013, the TSX Venture Exchange (the "Exchange") has accepted notice of the consolidation of the Company's common shares ("Common Shares") on a basis of eight (8) pre-consolidated Common Shares for each one (1) post-consolidation Common Share (the "Consolidation") and has no objection to the Company's Common Shares trading on a post consolidated basis effective at the opening of market Tuesday, April 30, 2013 under the new CUSIP number 051918506.
The Company's listed warrants to purchase Common Shares ("Warrants") will continue to trade on the Exchange under the new CUSIP number 051918142. Following the Consolidation, the Warrants will be consolidated on the basis of eight (8) existing Warrants ("Pre-Consolidation Warrants") for one (1) new Warrant ("Post-Consolidation Warrant"), with any fractional Post-Consolidation Warrant rounded down to the nearest whole number. Post-Consolidation Warrants will have an exercise price of $8.00 and may be exercised at any time up until 5:00pm (Vancouver time) on November 29, 2013. In accordance with the terms of the Warrant Indenture, notice of the Consolidation has been sent to all holders of Warrants.
Letters of transmittal with respect to the Consolidation will be mailed out to all registered shareholders by the Company's transfer Agent, Equity Financial Trust Company (Equity). The letter of transmittal describes the process by which shareholders may obtain new certificates representing their Consolidated Common shares and all registered shareholders of the Company will be required to send their certificates representing pre-consolidation Common Shares with a properly executed letter of transmittal to Equity, in accordance with the instructions provided in the letter of transmittal. Shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their name will not need to complete a letter of transmittal.
About Aurcana Corporation
La Negra Mine current installed capacity is 3,000tpd.
La Negra has a NI 43-101 M&I resource of 115.1 mm oz silver (at a grade of 131.3g/t), 1,418.7 mm lbs Zn (at a grade of 2.36%), 539.5 mm lbs Pb (at a grade of 0.91%) and 269.5 mm lbs Cu (at a grade of 0.49%) and an Inferred Resource of 56.5 mm oz silver (at a grade of 126.1g/t), 657.4 mm lbs Zn (at a grade of 2.14%), 263.0 mm lbs. Pb (at a grade of 0.88%) and 132.3 mm lbs Cu (at a grade of 0.42%).
The Shafter Mine mill was commissioned on April 1, 2012 and is expected to commence commercial production in late Q4 2012. The Shafter Silver Mine is scheduled to produce 3.8 million ounces of silver over 12 months when is operating at 1,500tpd capacity.
Shafter has a NI 43-101 M&I Resource of 23.9 mm oz of silver (at a grade of 267.1 g/t) and an Inferred Resource of 22.79 mm oz of silver (at a grade of 327.2 g/t).
(All National Instrument 43-101 technical reserve reports can be found on SEDAR at: www.sedar.com)
Aurcana continues to focus on its future growth.
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