Durango Closes Flow Through Financing of $515K
113437972
DGO:TSXV | 86A1:Frankfurt | ATOXF:OTCQB
DURANGO CLOSES FLOW THROUGH FINANCING OF $515K
Vancouver, BC / TheNewswire / May 26, 2022 – Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTCQB
-ATOXF), (the “Company” or “Durango”) announces that further to the news of May 20, 2022, the Company has
closed a non-brokered flow-through private placement (the “Private Placement”) of 6,064,705 units (the “Units”)
at a price of $0.085 per Unit to raise gross proceeds of $515,500.
Each Unit consists 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 p rice of $0.10 for a term of two years expiring May 23,
2024. A total of 3,032,353 common share warrants were issued in connection with the Private Placement at an
exercise price of $0.10.
The of fering was c onducted under a vailable exemptions from the prospectus requiremen ts of applicable
securities le gislation and participation in the off ering will be available to existing shareholder in qualifying
jurisdictions in Canada in ac cordance with the provisions of British Columbia Instrument 45 -354 and similar
provisions in securities legislation of other jurisdiction, and will be availa ble 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 t he Company’s
100 per-cent owned Discovery Property located in the Abitibi greenstone belt near Chibougamau, Québec. The
Discovery Property is located on strike to the southwest of the past -producing Troilus gold mine and neighbours
Troilus Gold Cor p. (TSX-TLG). The Discovery Property is over 6,500ha in size and covers an important geological
northeast to southwest regional structure. The Discovery Property has great road access and is accessible year -
round via the Route du Nord.
Finders’ fees of $36,085 cash will be pai d in connection with the offeri ng in accordance with the p olicies of the
TSX Venture Exchange. Brokers warrants totaling 424,529 were issued in conne ction with the offering and are
exercisable at a price of $0.10 expiring May 23, 2024 and are subject to the final approval of the TSX 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 , being September 25, 2022 . The Private Placement is subject to f inal approval
from the TSX Venture Exchange.
About Durango
Durango is a natur al resources company engaged i n the acq uisition and explor ation of mineral properties. The
Company is p ositioned f or 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
#248 - 515 West Pender Street
Vancouver, BC, V6B 6H5, Canada
tel: 604.428.2900
www.durangoresourcesinc.com
113437972
DGO:TSXV | 86A1:Frankfurt | ATOXF:OTCQB
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 this news release, other than statem ents of historical facts, that address events or developments that the
Company expects to occur, are fo rward-looking statements. Although the Company believes the expectations
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 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 re flects the Company’s views with res pect to future events and is
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 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.