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| Home : Duran Ventures Announces First Closing of Financing |
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Aug 16
2013 |
Duran Ventures Announces First Closing of Financing |
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TORONTO, ONTARIO--(Marketwired - Aug. 16, 2013) - Duran Ventures Inc. (TSX VENTURE:DRV)(LMA:DRV) ("Duran" or the "Company") is pleased to announce that it has completed the first tranche of its previously announced $500,000 non-brokered private placement financing (the "Offering"). The Offering consists of up to 16,666,666 units (each, a "Unit") at $0.03 per Unit for total gross proceeds of up to $500,000, subject to approval of the TSX Venture Exchange (the "TSXV"). Each Unit will consist of one common share of the Company ("Common Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one additional common share at an exercise price of $0.06 for a period of one year from the closing of the Offering and thereafter at an exercise price of $0.10 until the date that is two years from the closing of the Offering. The Offering is being conducted in accordance with TSXV Bulletin dated August 17, 2012 regarding Private Placements - Temporary Relief from Certain Pricing Requirements as amended on April 12, 2013 (the "Relief Provisions"). Proceeds of the Offering will be spent in accordance with the Relief Provisions and are expected to be used towards payment of outstanding payables, including exploration expenditures and general and administrative expenses. The Offering has been approved by Duran's board of directors, excluding those directors that have a direct interest in the Offering. |
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| Source:http://www.marketwire.com/mw/release.do?id=1821861&sourceType=3 |
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