Aurcana Corporation Announces Restructuring Transaction and Amendment of Senior Secured Credit Facility

http://www.baystreet.ca/articles/news-article.aspx

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Oct. 16, 2015) – Aurcana Corporation (TSX VENTURE:AUN)(OTCQX:AUNFF) (the “Company” or “Aurcana”) announces that it has entered into a Support Agreement (the “Support Agreement”) with Orion Mine Finance (Master) Fund I L.P. (the “Lender”) as lender under the amended and restated senior secured credit facility dated April 29, 2014 (the “Facility”) to effect a restructuring transaction in connection with the debt obligations under the Facility (the “Restructuring Transaction”). The Company also announces certain amendments to the Facility.

Aurcana Corporation is a primary silver producing company with two properties: the La Negra Mine in Mexico and the Shafter Silver Project in Texas, US. The latter was put on care and maintenance in December 2013, in part due to depressed silver prices.

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