pcNewWire – Durango Resources Inc. (TSX-V: DGO; FSE: 86A1; OTC: ATOXF) has completed the first tranche of a non-brokered private placement, issuing 2,823,485 units at a price of $0.06 per unit for gross proceeds of $169,409.
DURANGO ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT
Vancouver, BC / TheNewswire / June 8, 2017 – Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTC-ATOXF), (the “Company” or “Durango”) announces that it has completed the first tranche of a non-brokered private placement, details of which can be found in the press release dated June 6, 2017. The first tranche is composed of 2,823,485 units at a price of $0.06 per unit
for gross proceeds of $169,409.
Certain directors and officers of Durango participated in the financing and have acquired an aggregate of 735,000 units for cumulative gross proceeds of $44,100.
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 first tranche will expire on October 8, 2017, in accordance with Canadian Securities Laws.
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 Québec, and the NMX East lithium property near the Whabouchi mine and the Buckshot graphite property near the Miller Mine in Québec, 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