Durango Closes Second Tranche of Non Brokered Private Placement
Vancouver, BC / TheNewswire / October 16, 2015 - Durango Resources Inc. (the "Company" or "Durango") is pleased to announce it has closed the second tranche of the private placement that was previously announced on September 18th, 2015. This closing included gross proceeds raised of $37,500.
The Company has issued 750,000 units at $0.05 per unit and each unit consists of one common share and one share purchase warrant which entitles the shareholder to purchase one common share at a price of $0.10 for 12 months after closing.
Combining both tranches, the Company has issued a total of 1,250,000 units for gross proceeds of $62,500. All securities are subject to a four month and one day hold from the closing date. The proceeds received from the units will be used by the Company for exploration on the Decouverte property, the BC limestone properties and general working capital.
The offering is subject to receipt of final approval of the acceptance of the TSX Venture Exchange.
About Durango
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 Quebec, and the Buckshot graphite property near the Miller Graphite mine in Quebec and three sets of claims in the Labrador nickel corridor.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
Marcy Kiesman, Chief Executive Officer
Telephone: 604.428.2900
Facsimile: 888.266.3983
Email: durangoresourcesinc@gmail.com
Website: www.durangoresourcesinc.com
Forward-Looking Statements
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs, execution of a definitive agreement, raising of funds, obtaining regulatory approvals 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.
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