Duran Ventures Announces Completion of Shares FOR Debt Transaction and Early Warning of Acquisition of Shares
DURAN VENTURES ANNOUNCES COMPLETION OF SHARES FOR DEBT TRANSACTION
AND EARLY WARNING OF ACQUISITION OF SHARES
(Toronto, Ontario – May 30, 2017) Duran Ventures Inc. (TSXV: DRV; BVL: DRV) (“Duran” or the
“Company”) announces that it has received TSX V enture Exchange approval to settle an aggregate of
$96,063 of indebtedness (the " Debt") owed to certain arm’s length and non-arm’s length creditors
through the issuance of an aggregate of 1,067,368 common shares at a deemed issuance price of $0.09
per common share (the “Transaction”), of which 631,888 common shares will be issued to a non-arm's
length creditor. All common shares issued to settle the Debt will be subject to a hold period expiring on
October 1, 2017. Completion of the Transaction will allow the Company to improve its current working
capital deficiency position.
Prior to the Transaction, Mr. Jeffrey Reeder, President & CEO of Duran, was the beneficial holder of
2,673,097 common shares of Duran (representing 5.81% of the then issued and outstanding common
shares) and 1,661,000 common share purchase warrants and 85,714 stock options of the Company
(representing 9.26% of the then issued and outstanding common shares on a fully-diluted basis). Under
the terms of the Transaction Mr. Reeder, through Single Jack Research & Exploration Ltd. of 113-101
Granada Blvd., Sherwood Park, Alberta T8A 4W2, acquired beneficial ownership and control of an
additional 631,888 common shares (or an additional 1.21%) and now has ownership, direction and
control over an aggregate of 3,304,985 common shares, representing 7.02% of the issued and
outstanding common shares of the Company (or 5,051,699 common shares and 10.35% (or an
additional 1.09%) of the Company’s then outstanding common shares, assuming exercise of Mr.
Reeder’s common share purchase warrants and stock options on a partially diluted basis). Mr. Reeder
settled an aggregate of $56,870 of Debt in acquiring beneficial ownership and control of the common
shares. The common shares were issued from treasury of the Company and not acquired on the
secondary market.
The common shares were acquired by Mr. Reeder for investment purposes. In the future, Mr. Reeder
may acquire additional securities of the Company or dispose of such securities through the market or
otherwise subject to a number of factors, including general market and economic conditions, other
investment and business opportunities available and other circumstances.
This news release is being issued in accordance with National Instrument 62-103 – The Early Warning
System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early
warning report dated May 30, 2017. The early warning report will be filed on the System for Electronic
Document Analysis and Review (“SEDAR”) under the Company’s profile at www.sedar.com and may be
obtained by contacting Dan Hamilton at (416) 867-1591.
About Duran
Duran Ventures Inc. is a Canadian exploration company focused on mineral processing and the
exploration and development of precious and base metal properties in Peru with its head office at 40
University Avenue, Suite 603, Toronto, Ontario M5J 1T1
Duran Ventures Inc. is a Canadian resource company listed on the
TSX Venture Exchange and the Bolsa de Valores de Lima: Symbol “DRV”
For additional information, contact: Jeffrey Reeder Tel: (647) 302-3290
or Oscar Pezo at (011) 511 422-1467
Website: www.duranventuresinc.com Email: [email protected]
Neither the 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.
Disclosure Regarding Forward-Looking Statements: This press release contains certain “Forward-
Looking Statements” within the meaning of applicable securities legislation. We use words such as
“might”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “estimate”, “forecast” and similar
terminology to identify forward looking statements and forward-looking information. Such statements and
information are based on assumptions, estimates, opinions and analysis made by management in light of
its experience, current conditions and its expectations of future developments as well as other factors
which it believes to be reasonable and relevant. Forward-looking statements and information involve
known and unknown risks, uncertainties and other factors that may cause our actual results to differ
materially from those expressed or implied in the forward-looking statements and information and
accordingly, readers should not place undue reliance on such statements and information. Risks and
uncertainties are more fully described in our annual and quarterly Management’s Discussion and
Analysis and in other filings made by us with Canadi an securities regulatory authorities and available at
www.sedar.com.While the Company believes that the ex pectations expressed by such forward-looking
statements and forward-looking information and t he assumptions, estimates, opinions and analysis
underlying such expectations are reasonable, there c an be no assurance that they will prove to be
correct. In evaluating forward-looking statements and information, readers should carefully consider the
various factors which could cause actual results or events to differ materially from those expressed or
implied in the forward looking statements and forward-looking information.