* January 2016 - Aurcana completed a restructuring transaction extinguishing all of the Company's secured debt obligations ($40 million) conveying La Negra to Orion Mine Financing * As a result, Aurcana has an unencumbered 100% ownership in Rio Grande Mining Co ("RGMC") and the Shafter property. * Orion remains a significant Aurcana shareholder * Company has a technical support agreement with Orion for management consulting services provided by Aurcana. - Aurcana receives US $40,000/month over a 12-month term * On May 31, 2016 Aurcana iitiated a Preliminary Economic Assessment on the Shafter mine. Completion date August 2016 * Aurcana initiated a non-brokered private placement financing in August 2016
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