Durango Announces Flow Through Financing of $515K
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DGO:TSXV | 86A1:Frankfurt | ATOXF:OTCQB
DURANGO ANNOUNCES FLOW THROUGH FINANCING OF $515K
Vancouver, BC / TheNewswire / May 20, 2022 – Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTCQB
-ATOXF), (the “ Company” or “Durango ”) announces that the Company intends to undertake a non-brokered
flow-through private placement (the “Private Placement”) of 6,058,823 units (the “Units”) at a pri ce of $0.085
per Unit to raise gross proceeds of $515,000.
Each Unit will consist of one flow -through common share and one half of a share purchase warrant, with each
whole warrant exercisable into one further common share at a price of $0.10 for a term of two years.
The of fering will be conduct ed under a vailable exemptions from the prospectus requiremen ts of applicable
securities le gislation and participation in the offering will be available to existing shareholder in qu alifying
jurisdictions in Canada in accordance with the provisions of British Columbia Instrument 45 -354 and similar
provisions in securities legislation of other jurisdiction, and will be available to persons in qualifying ju risdictions
in C anada who have obtained advi ce as to the suitability of the investment from a person registered as an
investment dealer in accordance with the provisions of B.C. Instrument 45-536 and similar provisions in securities
legislation of other jurisdictions.
The proceeds from the sale of the flow -through offering will be used for exploration ac tivity on the Company ’s
100 per -cent owned Discovery Property located in the Abitibi greenstone belt near Chibougamau, Québec.
Durango is in discussions with drilling companies and drilling is expected to commence this summer.
Finders’ fees in connection with the offering may be pa yable in accordance with the p olicies and su bject to the
approval of the T SX Venture Exchange. All shares issued in connection with the offering will be subject to a
statutory hold period of four months and one day after closing of the offering. Completion of the offering is
subject to the approval of the TSXV. Any participatio n by insiders in the offering will constitute a related party
transaction under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transaction,
but is expected to be exempt from the formal valuation and min ority shareholder approval requirements of M I
61-101.
About Durango
Durango is a natural resources company engaged in the acq uisition and explor ation of mineral properties. The
Company is p ositioned for discovery with a 100% interest in a str ategically located group of pr operties in the
Windfall Lake gold camp in the Abitibi region of Québec, Canada.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
Marcy Kiesman, CEO
Telephone: 604.428.2900 or 604.339.2243
Email: [email protected]
Website: www.durangoresourcesinc.com
Forward-Looking Statements
This ne ws release contains “forward -looking in formation or statements” within the meaning of applicable
securities laws, which may includ e, withou t limitation, statements that addres s the upcoming work programs ,
and other statements relating to the busines s, financial and technical prospects of the Company. All statements
in thi s news release, other than statem ents of historical facts, that address ev ents or developments that the
Company expects to occur, are fo rward-looking statements. Although the Company believes the expectations
#248 - 515 West Pender Street
Vancouver, BC, V6B 6H5, Canada
tel: 604.428.2900
www.durangoresourcesinc.com
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DGO:TSXV | 86A1:Frankfurt | ATOXF:OTCQB
expressed in such f orward-looking statements ar e based on reasonable assumptions , such statements are not
guarantees of future performance and actual results may differ materially fro m those in the forward -looking
statements.
Such sta tements and information are b ased on nu merous as sumptions regarding present and future business
strategies and the environment in which the Company will operate in the future, including the price of minerals,
the ability to achieve its goals, the COVID-19 pandemic, that general busine ss and economic conditions will not
change in a material adverse manner, that financing will be available if and when needed and on reasonable
terms. Such forward -looking inf ormation reflects the Company’s views with res pect to future events and is
subject to risks, uncertainties and assumptio ns, including those filed under t he Company’s profile on SEDAR
at www.sedar.com. Factors that could cause actu al results to differ materially from th ose in forward looking
statements include, but are not limited to, continued availability of capital and finan cing and general economic,
market or business conditions. The Company does not undertake to update forward -looking statements or
forward-looking information, except as required by law.
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.