Vancouver, BC / TheNewswire / June 22, 2017 – Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTC-ATOXF), (the “Company” or “Durango”) announces that it has closed the final tranche of its non-brokered private placement as previously announced in the press release dated June 6, 2017.
The final tranche composed of 1,115,000 units (“Units”) at a price of $0.06 per Unit for gross proceeds of $66,900. Each Unit is comprised of one common share and one share purchase warrant exercisable for one common share at a price of $0.10 per share for a period of two years after closing. The combined gross proceeds of the private placement totaled $300,309 and the issuance of 5,005,151 Units.
Certain directors and officers of Durango participated in the financing and acquired a combined aggregate of 1,035,000 Units for cumulative gross proceeds of $62,100.
The proceeds raised through the financing are expected to be used to advance the limestone project in northern BC and for general working capital.
The four month hold period for all securities issued under the final tranche will expire on October 21, 2017, in accordance with Canadian Securities Laws.
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company has a 100% interest in the Mayner’s Fortune and Smith Island limestone properties in northwest British Columbia, the Decouverte and Trove gold properties in the Abitibi Region of Québec, and the NMX East lithium property near the Whabouchi mine and the Buckshot graphite property near the Miller Mine in Québec, the Whitney Northwest property near the Lake Shore Gold and Goldcorp joint venture in Ontario.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
Marcy Kiesman, Chief Executive Officer
Telephone: 604.428.2900 or 604.339.2243
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to the completion of the Financing and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties relating to Durango, please refer to the Company’s prospectus filed on its SEDAR profile at www.sedar.com.
Neither 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.