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Gold/Mining/Energy : Aurcana Corporation - AUN.V -- Ignore unavailable to you. Want to Upgrade?

To: basserdan who wrote (188)	11/4/2013 1:36:18 AM
From: Sultan	Respond to of 300

Aurcana Announces Proposal to Amend Warrants Expiring December 7, 2013 VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 1, 2013) - Aurcana Corporation ("Aurcana" or the "Company") (TSX VENTURE:AUN)( AUNFF) wishes to announce that the Company has applied to the TSX Venture Exchange (the "Exchange") and is seeking Warrant holder approval to amend the terms of certain outstanding common share purchase warrants (the "Warrants") which were issued as part of a private placement of equity units, priced at $0.31 per unit, that closed in December of 2010. At the time of issuance, each Warrant entitled the holder thereof to purchase one common share of the Company at an exercise price of $0.41 until December 7, 2013 (the "Expiry Date"). Effective April 30, 2013, all of the Company's outstanding common shares were consolidated on an eight for one basis, and as a result, the exercise terms of the Warrants were adjusted accordingly such that on a post-consolidation basis, an aggregate of 5,511,481 Warrants remained outstanding, each of which entitles the holder to acquire one post-consolidation common share of the Company at an exercise price of $3.28 until the Expiry Date. The Company intends to amend the Warrants to reduce the exercise price of the Warrants from $3.28 to $2.04 and extend the Expiry Date of the Warrants from December 7, 2013 to December 7, 2014. As a condition to the amendment of the Warrants, the Exchange requires that if, for a period of 10 consecutive trading days, the closing price of the Company's Common shares on the Exchange exceeds $2.45 per share, the exercise term of the Warrants will be shortened to 30 days. The Company will issue a press release notifying the holders of Warrants if the exercise term is reduced. A notice and consent form ("Notice") will be sent to all Warrant holders of the proposed amendments outlined above via mail. All Warrant holders or their agents should execute the consent to the amendments and return the Notice to the Company immediately in order for the amendments to be effective. Should a Warrant holder wish to receive the Notice via e-mail, please contact the Company's Corporate Secretary at shunter@aurcana.com. The proposed amendments to the terms of the Warrants as set out above are subject to Warrant holder and Exchange approval. finance.yahoo.com