(TheNewswire)
Vancouver, BC / TheNewswire / June 6, 2017 - Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTC-ATOXF), (the "Company" or "Durango") announces that it has received conditional approval from the TSX Venture Exchange ("TSX-V") to complete a private placement (the "Financing") of up to 5,000,000 units ("Units") of the Company at a price of $0.06 per Unit for aggregate gross proceeds of up to $300,000 which will be used in part to develop its wholly owned limestone project near Terrace, B.C. and for general working capital.
Each Unit will consist of one common share of the Company and one share purchase warrant ("Warrant"). Each Warrant will entitle the holder to purchase on additional common share at an exercise price of $0.10 for 24 months from the closing date of the private placement. All securities purchased under the Financing will be subject to a hold period of four months and one day from the closing date. The Financing may close in one or more tranches.
Certain directors and officers of Durango may participate in the Financing. All of the foregoing is subject to final approval of the TSX-V.
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 Qu?(C)bec, and the NMX East lithium property near the Whabouchi mine and the Buckshot graphite property near the Miller Mine in Qu?(C)bec, 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.