VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 25, 2013) - Aurcana Corporation ("Aurcana" or the "Company") (TSX VENTURE:AUN)(OTCQX:AUNFD) is pleased to announce that it will hold a webcast and teleconference to discuss its Q2 2013 financial results, on Monday, August 26, 2013.
Mr. Lenic Rodriguez, President & CEO of Aurcana Corporation will provide investors with an overview of Aurcana's second quarter financial results and an update on the La Negra and Shafter operations, followed by a 30 minute question period. The webcast and teleconference has been scheduled for 10.00am PST (1.00pm EST) on Monday, August 26, 2013.
The Q2 2013 webcast can be accessed via the following link:
Conference call details
|Conference date:||Monday 26-August-2013|
|Conference time:||10:00AM Pacific Time/1.00pm EST|
|Participant dial-in number(s):||Can: 416-340-8018|
|Participant pass code:||Not required|
The recorded webcast will be posted to the Aurcana's website.
Update on Red Kite Financing
The Company would also like to announce that it continues to work with RK Mine Finance, in closing an unsecured 3 year loan facility of $50 million and silver Offtake Agreement for the silver produced at the Shafter mine. The closing, subject to execution of definitive documentation and approval from RK Mine Finance's Investment Committee, initially expected to occur in July 2013 is now targeted for completion in August 2013.
A class action has been filed in the Ontario Superior Court of Justice naming the Company and certain officers of the Company as defendants. The plaintiff's Statement of Claim asserts claims based on alleged misrepresentations relating to levels of production at the Shafter mine. The plaintiff purports to bring suit on behalf of all purchasers of the Company's publicly traded securities between December 14, 2012 to and including April 11, 2013.
The Company considers the allegations to be entirely without merit and will vigorously defend itself in this action.
About Aurcana Corporation
Aurcana Corporation is a primary silver producing company with two producing mines: La Negra Mine in Mexico and Shafter Mine in Texas, US. The Company is in a position to grow organically from its existing mines in its pursuit to become an emerging senior silver producer. Aurcana continues to focus on its future growth.
The Company's shares are also traded in the United States on OTCQX under the symbol "AUNFF". Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcqx.com and www.otcmarkets.com.
Lenic Rodriguez, President & CEO, AURCANA CORPORATION
This news release contains certain forward-looking statements, including statements regarding forecast silver production, silver grades, recoveries, potential mineralization, exploration results, future plans and objectives of the Company, the completion of a debt financing and silver offtake agreement, and the business and anticipated financial performance of the Company. These statements are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to mining and processing of mined ore, achieving projected recovery rates, anticipated production rates and mine life, operating efficiencies, costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.
Exploration results that include geophysics, sampling and drill results on wide spacings may not be indicative of the occurrence of a mineral deposit. Such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics and economic potential to be classified as a category of mineral resource. A mineral resource which is classified as "inferred" or indicated" has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an "indicated mineral resource" or "inferred mineral resource" will ever be upgraded to a higher category of resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable reserves.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or does not expect", "is expected", anticipates" or "does not anticipate" "plans", "estimates" or "intends" or stating that certain actions, events or results " may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements". Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements.
Actual results may differ materially from results contemplated by the forward-looking statements. Important factors that could differ materially from the Company's expectations include, among others, risks related to international operations, unsuccessful exploration results, the ability of suppliers to provide equipment, the availability of skilled labour, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as changes in metal prices, changes in the availability of funding for mineral exploration and development, unanticipated changes in key management personnel and general economic conditions. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf, except as required pursuant to applicable securities laws. Accordingly, readers should not place undue reliance on forward-looking statements.
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.