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| Home : Aurcana Closes $50 million Loan Facility |
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Sep 20
2013 |
Aurcana Closes $50 million Loan Facility |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 19, 2013) - Aurcana Corporation ("Aurcana" or the "Company") (TSX VENTURE:AUN)(OTCQX:AUNFF) is pleased to announce that it has executed definitive agreements with MF2 Investment Holding Company (Cayman) Limited, part of Orion Mine Finance Fund I ("Orion Mine Finance"), for a loan facility in the principal amount of US$50,000,000 (the "Loan") and an Offtake Agreement (the "Offtake Agreement") for silver and gold (the 'Material") produced at the Company's Shafter mine. A total of approximately US$13 million from the Loan proceeds will be used by the Company to complete the construction and upgrade work for Shafter mine and the balance of the Loan will be used to repay certain indebtedness and for otherwise advancing the La Negra and Shafter mines. |
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| Source:http://www.marketwired.com/mw/release.do?id=1832989&sourceType=3 |
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