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Aurcana Corporation Up Slightly and Announces Private Placement.

Publication: M2 Presswire
Publication Date: 08-MAR-07 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
M2 PRESSWIRE-8 March 2007-International Stock Targets: Aurcana Corporation Up Slightly and Announces Private Placement(C)1994-2007 M2 COMMUNICATIONS LTD

RDATE:08032007

Aurcana Corporation (TSX-V:AUN) was up 5.04% yesterday with 261,307 shares traded.

Aurcana Corporation ("Aurcana" or the "Company") (TSX VENTURE:AUN) recently announced it has closed the brokered portion of the private placement announced February 13, 2007 and has issued an aggregate of 4,000,000 units (each a "Unit") at a price of $1.25 per Unit for total gross proceeds of $5,000,000. Canaccord Capital Corporation acted as the agent (the "Agent") for the brokered portion of the financing.

Further the Company has closed subject to TSX-Venture Exchange ("TSX-VE") approval, its non-brokered private placement for 12,800,000 units (each a "Unit") at a price $1.25 per Unit for total gross proceeds of $16,000,000.

Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles the holder to acquire one common share...

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