Durango Issues Shares For Debt
Vancouver, BC / TheNewswire / October 26, 2015 - Durango Resources Inc. (the "Company" or "Durango") announces pursuant to the terms of the Agreement announced on September 16th, 2015 with AGORACOM the Company will be issuing shares for services. In exchange for the online advertising, marketing and branding services, the Company will be issuing 282,500 common shares at a deemed price of $0.05 per share to settle $14,125 of debt.
The Company will also issue shares to directors to settle accrued management and director fees of $86,000 at a deemed price of $0.05 per share totaling 1,720,000 common shares. The Company is settling the outstanding indebtedness through the issuance of shares to preserve its working capital for exploration and operational activities.
All shares issued are subject to a regulatory hold period of four months and one day from the date of issuance in accordance with applicable securities legislation and are subject to TSX Venture Exchange approval.
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, the "triple G" Garland claims near Voisey's Bay in Labrador, and the Buckshot graphite property near the Miller Graphite mine in Quebec.
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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