Aurcana Silver Corp V.AUN.H

any idea when the PP will be finalized ?!!?

[M1DAS]

still find it hard to believe this was the only (best) financing option ?!?!? 

with everything Shafter / AUN is set to be, are you telling me there are NO wealthy USA investors willing
to pony up $25M and take a 7% stake in a home grown SILVER company (expecting) to produce 5M-10M ounces a year and (costs) at $8 per ounce, really, nobody would like to make that type of Investment ?!?!?

rant over, shutting it down for today M1DAS

Aurcana Corp. intends to sell $25-million of units with each unit to consist of one common share in the capital of the company and one-half of one common share purchase warrant by way of private placement. The offering will be conducted through a syndicate of agents led by RBC Capital Markets, and includes Dundee Securities Ltd. and Stonecap Securities Inc. The offering will be carried out on a best-efforts basis with pricing and terms of the units to be determined in the context of the market, to be announced in a subsequent news release. In addition, the company will grant to the agents an option, exercisable in whole or in part, at any time up to 48 hours prior to closing of the offering, to offer an additional number of units representing 15 per cent of the offering, on the same terms as the offering.The proceeds of the offering will be used to complete the continuing construction of the Shafter mine and mill expansion at the La Negra mine, and for general corporate purposes and working capital.Aurcana's chief executive officer and president, Lenic Rodriguez, stated: "We are pleased with the announcement of this financing that will allow Aurcana to complete construction of the Shafter mine and continue the expansion of the La Negra mill. The company greatly looks forward to making its transition from a junior to mid-tier producer upon the completion of Shafter in May, 2012."