VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 13, 2017) - Aurcana Corporation (TSX VENTURE:AUN) ("Aurcana"
or the "Company") is pleased to announce that it will undertake a non-brokered private placement of up to 10,000,000 units (each,
a "Unit") at a price of $0.30CDN per Unit, for gross proceeds of up to $3,000,000CDN (the "Offering"). Each Unit will consist of
one common share in the capital of the Company (each a "Share") and one transferable common share purchase warrant (each a
"Warrant"). Each Warrant will entitle the holder thereof to purchase one additional Share at an exercise price of $0.45CDN per
Share for a term of three years from the closing date of the Offering. A finder's fee or commission may be paid on part of
the Offering.
The net proceeds from the Offering will be used by Aurcana for the exploration and development of the Shafter Silver Project
in Texas and for general working capital purposes.
All securities issued in connection with the Offering will be subject to a hold period expiring four months and one day
following the closing of the Offering.
This proposed Offering is subject to the acceptance of the TSX Venture Exchange.
ABOUT AURCANA CORPORATION
Aurcana Corporation owns the Shafter Silver Project in Texas, U.S.A. The Shafter Silver Project was put on care and
maintenance in December of 2014, in part due to depressed silver prices.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA CORPORTION
Kevin Drover, President & CEO
For further information, visit the website at www.aurcana.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation,
relating to, among other things, the Company's plan to undertake the Offering and the proposed use of proceeds. Although the
Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.
Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the
words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal,"
"objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or
"should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that
Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the
statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such
statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such
statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company
undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other
factors, should change. Factors that could cause future results to differ materially from those anticipated in these
forward-looking statements include, the risk that the Company will not be able to secure sufficient subscriptions from investors
to complete the proposed Offering, possible, accidents and other risks associated with mineral exploration operations, the risk
that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure
permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company
will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and
regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the
Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and
Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk
factors and their potential effects.