LEAP.V · 2020-03-16 12:00:00

Early Warning Press Release IN Respect of Durango Resources Inc.

Corporate Updates

EARLY WARNING PRESS RELEASE

IN RESPECT OF DURANGO RESOURCES INC.

RICHMOND, BC – March 16, 2020 – This Early Warning Press Release is being filed in respect of

Robert Kiesman (“Kiesman”), Skeena Gold Fishing Ltd., a corporation controlled by Kiesman

(“Skeena”) and Debra Wampler, an individual whose securities are under the control and

direction of Kiesman (“Wampler”, and together with Kiesman and Skeena, the "Acquiror").

The Acquiror has acquired an aggregate of 876,000 common shares (the "Purchased Shares")

and 876,000 warrants (the “New Warrants”, and together with the Purchased Shares, the

“Purchased Securities”) of Durango Resources Inc. (the "Issuer"). Each New Warrant is

exercisable for one common share of the Issuer (each, a “Share”) at an exercise price of $0.08

per share until March 11, 2022.

The Acquiror filed a previous Early Warning Press Release in respect of the Issuer on

September 13, 2019 (the “Previous EWNR Filing Date”).

The Purchased Securities were acquired by the Acquiror pursuant to a private placement of the

Issuer that closed on March 12, 2020 (collectively, the “Acquisition”). The purchase price of the

Purchased Securities was $0.05 per share, for an aggregate price of $41,800.00. The Purchased

Shares acquired represent approximately 2.11% of the Issuer's issued and outstanding Shares

that were outstanding on the Previous EWNR Filing Date, being 41,603,000 Shares.

Before the Acquisition, as of the Previous EWNR Filing Date:

(a) Kiesman held an aggregate of: (i) 1,560,000 Shares, representing 3.75% of the issued

and outstanding Shares; and (ii) 893,344 warrants, each exercisable for one Share at

an exercise price of $0.10 per share (each, a “Previous Warrant” and together with

the New Warrants, the “Warrants”);

(b) Skeena held an aggregate of: (i) 1,564,000 Shares, representing 3.76% of the issued

and outstanding Shares; and (ii) 913,474 Previous Warrants; and

Shares.

Therefore, before the Acquisition on the Previous EWNR Filing Date, the Acquiror collectively

held: (a) 3,224,000 Shares, representing 7.75% of the issued and outstanding Shares on a non-

diluted basis; and (b) 5,030,818 Shares, representing 11.59% on a partially-diluted basis,

assuming exercise of the 1,806,818 Warrants but that no other convertible securities of the

Issuer were exercised.

After the Acquisition:

(a) Kiesman holds an aggregate of: (i) 2,000,000 Shares, representing 4.32% of the issued

and outstanding Shares as of the date hereof, being 46,228,000 Shares; and (ii)

1,333,344 Warrants;

(b) Skeena holds an aggregate of: (i) 1,564,000 Shares, representing 3.38% of the issued

and outstanding Shares as of the date hereof; and (ii) 913,474 Warrants; and

- 2 -

and outstanding Shares as of the date hereof; and (ii) 436,000 Warrants.

Therefore, after the Acquisition, the Acquiror collectively owns : (i) 4,100,000 Shares,

representing 8.87% of the issued and outstanding Shares on a non-diluted basis; and (ii)

6,782,818 Shares, representing 13.87% on a partially-diluted basis, assuming exercise of the

2,682,818 Warrants but that no other convertible securities of the Issuer are exercised.

The Purchased Securities were purchased and are presently being held for investment

purposes. In the future, the Acquiror may acquire additional securities of the Issuer or dispose

of such securities subject to a number of factors, including general market and economic

conditions and other available investment and business opportunities.

A copy of the early warning report to be filed by the Acquiror will be available on SEDAR under

the Issuer’s profile on www.sedar.com.

This early warning news release is issued under the early warning provisions of Canadian

securities legislation, including National Instrument 62-104 – Take-Over Bids and Issuer Bids and

National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider

Reporting Issues.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the

adequacy or accuracy of this press release nor have they approved nor disapproved the

content thereof.

For further information, contact:

Robert Kiesman

Telephone: (604) 204-0164

← Back to feed