Durango Announces Closing of Second Tranche of Private Placement
(TheNewswire)
Vancouver, BC / TheNewswire / June 9, 2017 - Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTC-ATOXF), (the "Company" or "Durango") announces that it has completed the second tranche of a non-brokered private placement, details of which can be found in the press releases dated June 6 and June 8, 2017.
The second tranche is composed of 1,066,667 units at a price of $0.06 per unit for gross proceeds of $64,000. Combined with the closing of the first tranche, Durango has raised a total of $233,409.
Certain directors and officers of Durango participated in the financing and have acquired a combined aggregate from both tranches of 1,035,000 units for cumulative gross proceeds of $62,100.
The proceeds raised through the financing will be used to advance the limestone project in northern BC and for general working capital.
Closing of tranches is subject to the receipt of regulatory approvals, including final acceptance by the TSX Venture Exchange. The four month hold period for all shares issued under the second tranche will expire on October 10, 2017, in accordance with Canadian Securities Laws.
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 NMX East lithium property near the Whabouchi mine and the Buckshot graphite property near the Miller Mine in Quebec, 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
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 exploration of its properties, 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.
Copyright (c) 2017 TheNewswire - All rights reserved.
