DGO:CC - Durango Closes Financing Tranche of $735K
(TheNewswire)
Vancouver, BC / TheNewswire /December 29, 2022 – Durango Resources Inc. (TSXV:DGO) (Frankfurt:86A1) (OT C: ATOXF), (the “ Company ” or“ Durango ”) announces that further to the news on December 28, 200the Company has conditionally closed its first tranche of anon-brokered flow-through private placement (the “ Private Placement ”)of 8,166,667 flow through units (the “ FT Units ”) at aprice of $0.09 per Unit to raise gross proceeds of $735,000.
Each FT Unit consists of one flow-through common shareand one half of a share purchase warrant, with each whole warrantexercisable into one further common share at a price of $0.18 for aterm of two years expiring December 27, 2024.
The proceeds from the sale of the flow-through offeringwill be used for exploration activity on the Company’s 100 per-centowned properties located in the Abitibi greenstone belt nearChibougamau and Nemaska, Québec.
Finders’ fees of $44,100 cash and 490,000 finder’swarrants exercisable at $0.18 until December 27, 2024, were paid inconnection with the offering and are subject to the approval of theTSX Venture Exchange. All shares issued in connection with theoffering are subject to a statutory holding period of four months andone day after closing of the offering, being April 29, 2023.Completion of the offering is subject to the final approval of the TSXVenture Exchange.
About Durango
Durango is a natural resources company engaged in theacquisition and exploration of mineral properties. The Company ispositioned for discovery with a 100% interest in a strategicallylocated group of properties in the Windfall Lake gold camp in theAbitibi region of Québec , Canada.
For further information on Durango, please refer to itsSEDAR profile at www.sedar.com .
Marcy Kiesman, CEO
Telephone: 604.428.2900 or 604.339.2243
Email: durangoresourcesinc@gmail.com
Website: www.durangoresourcesinc.com
Forward-Looking Statements
This news release contains “forward?lookinginformation or statements” within the meaning of applicablesecurities laws, which may include, without limitation, statementsthat address the upcoming work programs, and other statements relatingto the business, financial and technical prospects of the Company. Allstatements in this news release, other than statements of historicalfacts, that address events or developments that the Company expects tooccur, are forward-looking statements. Although the Company believesthe expectations expressed in such forward-looking statements arebased on reasonable assumptions, such statements are not guarantees offuture performance and actual results may differ materially from thosein the forward-looking statements.
Such statements and information are based on numerousassumptions regarding present and future business strategies and theenvironment in which the Company will operate in the future, includingthe price of minerals, the ability to achieve its goals, the COVID-19pandemic, that general business and economic conditions will notchange in a material adverse manner, that financing will be availableif and when needed and on reasonable terms. Such forward-lookinginformation reflects the Company’s views with respect to futureevents and is subject to risks, uncertainties and assumptions,including those filed under the Company’s profile on SEDARat www.sedar.com . Factors that couldcause actual results to differ materially from those in forwardlooking statements include, but are not limited to, continuedavailability of capital and financing and general economic, market orbusiness conditions. The Company does not undertake to updateforward?looking statements or forward?looking information, exceptas required by law.
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
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