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| Home : Duran Ventures Announces First Closing of Private Placement Financing |
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Jul 26
2016 |
Duran Ventures Announces First Closing of Private Placement Financing |
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TORONTO, ONTARIO--(Marketwired - July 25, 2016) - 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 $990,000 non-brokered private placement financing (the "Offering"). The first tranche consisted of 6,718,421 units ("Units") at $0.09 per Unit for gross proceeds of $604,658. Each Unit consists of one common share of the Company ("Common Share") and one common share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to purchase one additional Common Share at an exercise price of $0.15 for a period of two years from the closing of the first tranche. In conjunction with the first tranche, the Company paid finders fees in the aggregate amount of $11,610 cash and issued 12,000 finders share purchase warrants (the "Finders Warrants"). Each Finders Warrant is exercisable to acquire one common share at an exercise price of $0.09 for a period of two years from the date of closing of the first tranche. |
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| Source:http://www.marketwired.com/mw/release.do?id=2145126&sourceType=3 |
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