Aurcana Corporation - AUN.V Message Board

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Gold/Mining/Energy : Aurcana Corporation - AUN.V

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Apr 19 5:00 PM EST

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To: dara who wrote (163)	6/27/2013 8:00:13 PM
From: Sultan	of 300

I was at the AGM on Tuesday but forgot to post here.. So this news is not a surprise but the dollar amount certainly is.. Since this is a loan facility and does not dilute the share count, I am fine with it.. No idea of the terms though.. Aurcana Announces $50 Million Loan Facility VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 27, 2013) - Aurcana Corporation ("Aurcana" or the "Company") (TSX VENTURE:AUN)( 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. finance.yahoo.com

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