Durango Announces Non-Brokered Private Placement
Vancouver, BC / TheNewswire / June 22, 2016 - Durango Resources Inc. (TSX.V-DGO), (the "Company" or "Durango") announces a non-brokered private placement of up to 2.5 million units at a price of $0.10 per unit and 2.5 million flow through units at a price of $0.125 per unit to raise gross proceeds of up to $562,500.
Each unit consists of one common share and one share purchase warrant. Each share purchase warrant is exercisable into one additional common share for a period of one year from the date of issue at an exercise price of $0.15 per share.
The proceeds of the private placement will be used for general working capital and exploration on Durango's wholly owned properties.
The Company may pay a finder's fee in connection with this private placement. All the securities issuable will be subject to a four month hold period from the date of closing. The private placement is subject to the approval 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 certain lithium properties near the Whabouchi mine, the Buckshot graphite property near the Miller Mine in Quebec, the Dianna Lake silver project in northern Saskatchewan, the Whitney Northwest property near the Lake Shore Gold and Goldcorp joint venture in Ontario, as well as 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 or 604.339.2243
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 the purchase, development, commencement and completion of future exploration or project development programs 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.
Copyright (c) 2016 TheNewswire - All rights reserved.