Replies to post #26602 on Value Microcaps Junior Miners

[db7]

AUN.v/aunff.pk, Aurcana Announces Pricing of C$25.4 Million Private Placement Financing
08:43 EST Friday, November 11, 2011

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 11, 2011) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Aurcana Corporation ("Aurcana" or the "Company") (TSXVENTURE:AUN)(OTCQX:AUNFF)(PINK SHEETS:AUNFF) announces today that ithas priced its previously announced offering of approximately C$25.4million dollars of units (each, a "Unit"). Each Unit consists of onecommon share in the capital of the Company (the "Unit Shares") and onehalf of one common share purchase warrant (each whole warrant, a"Warrant"). The private placement offering (the "Offering") wasconducted through a syndicate of agents led by RBC Capital Markets andincluding, BMO Capital Markets, Dundee Securities Ltd. and StonecapSecurities Inc. (the "Agents"). In addition, the Company has granted theAgents an option, exercisable in whole or in part at any time up to 48hours prior to closing of the Offering, to offer an additional number ofUnits representing 15% of the Offering, on the same terms as theOffering.

The Units are being offered and sold at a price of
.65 per Unit. The sale of 39,000,000 Units will deliver gross proceedsof approximately C$25.4 million, before expenses related to theOffering (C$29.2 million if the over-allotment option is exercised infull). Each full Warrant will entitle the holder, on exercise, topurchase one additional common share of the Company (a "Warrant Share"),at a price of $1.00 at any time until the close of business on the daywhich is 24 months from the date of issue of the Warrant. All securitiesissued in connection with the Offering will be subject to a hold periodin Canada expiring on the day that is four months and one day from theclosing of the Offering. The net proceeds of the Offering will be usedfor ongoing construction of the Shafter mine, mill expansion at the LaNegra mine and for general corporate purposes and working capital.

Lenic Rodriguez, President and CEO, commented: "Weare pleased that this equity financing will provide Aurcana with capitalfor ongoing construction of the Shafter mine and to continue theexpansion of the La Negra mill. The Company greatly looks forward tomaking its transition from a junior to mid-tier producer upon thecompletion of Shafter in May 2012."

The Offering is currently expected to close on orabout November 29, 2011, subject to the satisfaction of customaryclosing conditions and acceptance from the TSX Venture Exchange.