Durango Closes Financing Tranche of $735K
113437972
DGO:TSXV | 86A1:Frankfurt | ATOXF:OTCQB
DURANGO CLOSES FINANCING TRANCHE OF $735K
Vancouver, BC / TheNewswire / December 29, 2022 – Durango Resources Inc. (TSX.V-DGO) (Frankfurt -86A1)
(OTCQB -ATOXF), (the “Company” or “ Durango”) announces that further to the news on December 28, 200 the
Company has conditionally cl osed its first tranche of a non-brokered flow-through private placement (the
“Private Placement”) of 8,166,667 flow through units (the “FT Units”) at a pri ce of $0.09 per Unit to raise gross
proceeds of $735,000.
Each FT Unit consists of one flow -through common share and one half of a share purchase warrant, with each
whole warrant exe rcisable into one f urther common share at a p rice of $0.1 8 for a term of two years expiring
December 27, 2024.
The proceeds from the sale of the flow -through offering will be used for explo ration activity on t he Company’s
100 per-cent owned properties located in the Abitibi greenstone belt near Chibougamau and Nemaska, Québec.
Finders’ fees of $44,100 cash and 490,000 finder’ s warrants exercisable at $0.18 until Decemb er 27, 2024, were
paid in connection with the offering and are subject to the approval of the T SX Venture Exchange. All shares
issued in connection with the offering are subject to a statutory holding period of four months and one day after
closing of the offering, being April 29, 2023. Completion of the offering is subje ct to the final approval of the TSX
Venture Exchange.
About Durango
Durango is a natur al resources compan y engaged i n 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 news release contains “forward -looking in formation or statements” within the meaning of applicable
securities laws, which may include, withou t limitation, statements that address the upcoming work programs ,
and other statements relating to t he business, financial and technical prospects of the Company. All statements
in this 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 t he Company believes the expectations
expressed in such f orward-looking statement s 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 assumptions regar ding 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 goa ls, the COVID-19 pandemic, that general business and economic conditions will no t
change in a material adverse manner , that financing will be available if a nd when needed and on reasonable
terms. Such forward -looking inf ormation reflects the Company’s view s with res pect to future events and is
#248 - 515 West Pender Street
Vancouver, BC, V6B 6H5, Canada
tel: 604.428.2900
www.durangoresourcesinc.com
113437972
DGO:TSXV | 86A1:Frankfurt | ATOXF:OTCQB
subject to risks, uncertainties and assum ptions, 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 t o, continued availability of capital and financing 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.