Duran Ventures Announces Increase and Extension of Private Placement Financing
Duran Ventures Announces Increase and Extension of
Private Placement Financing
Toronto, Ontario--(Newsfile Corp. - September 22, 2017) -
Duran Ventures Inc. (
TSXV:
DRV) (
BVL: DRV
)
("
Duran
" or the
"
Company
") is pleased to announce that its previously announced non-brokered private placement financing (the "
Offering
")
has been extended to October 25, 2017, and increased to 10,000,000 units (the "
Units
") at $0.05 per Unit for gross proceeds
of up to $500,000 subject to final TSX Venture Exchange ("
TSXV
") approval.
Each Unit consists of one common share of the
Company ("
Common Share
") and one half common share purchase warrant (each whole common share purchase warrant a
"
Warrant
"). Each Warrant will entitle the holder to purchase one additional Common Share at an exercise price of $0.075 for a
period of two years from the closing of the Offering. In the event that the closing sale price of the Common Shares on the TSXV
is greater than C$0.15 per share for a period of 20 consecutive trading days at any time after the date that is four months and
one day after the closing of the Offering, the Company may accelerate the expiry date of the Warrants by giving notice to the
holders thereof (which notice may take the form of a press release) and in such case the Warrants will expire on the 30th day
after the date on which such notice is given by the Company.
The Company has closed the first two tranches of the Offering, consisting of a total of 2,750,000 Units for aggregate gross
proceeds to the Company of $137,500. No finder's fees were paid in connection with the first two tranches. The Company
expects to hold one or more additional closings of the Offering on or before October 25, 2017; however there can be no
assurances that any such closings will occur.
As previously announced, the net proceeds from the Offering will be used for the Aguila Norte plant commissioning and
operations and general and administrative purposes.
A
bout 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.
For further information on Duran please visit
www.duranventuresinc.com
.
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:
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 Canadian securities regulatory authorities and available at
www.sedar.com
. While the
Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the
assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can 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.