Durango Closes Final Tranche of Non-Brokered Financing
DGO:TSXV | 86A1:Frankfurt | ATOXF:OTCQB
DURANGO CLOSES FINAL TRANCHE OF NON-BROKERED FINANCING
Vancouver, BC / TheNewswire / July 2 5, 2019 – Durango Resources Inc. (TSX.V-DGO) (Frankfurt -86A1) (OTC QB -
ATOXF), (the “ Company” or “ Durango”) announces that it has closed the final tranche of its non-brokered private
placement (the “Financing”) for gross proceeds of $280,306.91.
As noted in Durango ’s news release dated March 29, 2019, the Financing was comprised of a flow through component
(the “Flow Through Component”) and a non-flow through component (the “Non-Flow Through Component”). The Flow
Through Component consists of 2,002,222 flow through units at $0.09 (“Flow Through Units”), with each Flow Through
Unit being comprised of one common share (each, a “Share”) and one share p urchase warrant (each, a “Flow Through
Warrant”). Each Flow Through Warrant is exerci sable for one Share at an exercise price of $0 .15 expiring March 2 8,
2020. The Non -Flow Through Comp onent consists of 1,334,759 non-flow through units at $0.075 (“Non-Flow Through
Units”), with each Non-Flow Through Unit being comprised of one Share and one share purchase warrant (each, a “Non-
Flow Through Warrant”). Each Non-Flow Through Warrant i s exercisable for o ne Share at an exercise pric e of $0.125
expiring July 23, 2022.
The Company has issued: (a) 2,002,222 Flow-Through Units for proceeds of $180,199.98 with a hold period expiring July
30, 2019; and (b) 1,334,759 Non-Flow Through U nits for proceeds of $ 100,106.93 with hold periods exp iring July 30,
2019 and November 24, 2019. Closing of the Financing is subject to the final approval of the TSX Venture Exchange.
Marcy Kiesman, CEO of Dur ango stated, “We are extremely pleased with our IP resu lts to date on the Trove Property
and have a very eminent Windfall Lake geologist currently reviewing our delineated drill targets. The Windfall Lake gold
deposit (held by Osisko Mining) announced July 23, 2019, a ‘significant new wide high-grade gold zone’ with intercepts
including 47.8 g /t over 12 .1 metres and ‘will increase the drill definition and exploration program at Windfall by an
additional 200,000 metres for a to tal program of 1,00,000 metres drill ing.’ Durango’s crew is anxious to begin
exploration drilling at Trove, especially since the discovery of the gold min eralized structures on multiple sides of the
property (see news release dated July 2, 2019).”
All proceeds raised in the Flow Through Com ponent will be used for flow-through eligible exploration expenses on
Durango’s Trove Property located in Windfall Lake, Quebec. In connection with this tranche of the offering, the
Company paid aggregate finders’ fees to qualified finders of $10,240, representing eight percent of the gross proceeds in
respect of certain subscri ptions. Th e Company also is sued 145,911, non -transferrable finder s’ warrants to qualified
finders’, with each finders’ warrant being exercisable to acquire one common share at a n exercise price of fifteen cents
until March 28, 2020.
The proceeds raised in the Non -Flow Through Component will be used fo r general working c apital and to pay finder’s
fees associated with the Flow-Through Component . No finders’ fees are payable in connect ion with the N on-Flow
Through Component.
About Durango
Durango is a natural resources company engaged i n the acquisition and exploration of minera l propertie s. The
Company is positioned for discovery with a 100% interest in a strategically located group of properties 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.
#248 - 515 West Pender Street
Vancouver, BC, V6B 6H5, Canada
tel: 604.428.2900
www.durangoresourcesinc.com
DGO:TSXV | 86A1:Frankfurt | ATOXF:OTCQB
Marcy Kiesman, CEO
Telephone: 604.428.2900 or 604.339.2243
Email: [email protected]
Website: www.durangoresourcesinc.com
Forward-Looking Statements
This document may contain or refer to forward -looking information based on current expectations and the impa ct
on the Company of these e vents. Forward -looking information is subje ct to sign ificant risks and uncertainties,
including market conditions, as actual results may differ mater ially from forec asted r esults. Forward -looking
information is provided as of th e 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 t o its
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.