DURANGO RESOURCES INC. ("DGO")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: August 19, 2016
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced June 22, 2016:
Number of Shares: 2,510,000 non flow-through shares
120,000 flow-through shares
Purchase Price: $0.10 per non flow-through share
$0.125 per flow-through share
Warrants: 2,620,000 share purchase warrants to purchase 2,620,000 shares
Warrant Exercise Price: $0.15 for a one year period
Number of Placees: 12 Placees
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P # of Shares
Steveston Finance Inc.
(Marcy Kiesman) Y 350,000
Aggregate Pro Group Involvement P 100,000
[1 Placee]
Finder's Fee: $7,000 cash and 70,000 broker warrants payable to Haywood Securities Inc.
$2,000 cash and 20,000 broker warrants payable to Leede Jones Gable Inc.
Broker warrants are exercisable at $0.10 per share for one year.
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
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