Durango Resources - Aerial shot from the Discovery Project in Quebec.
Aerial shot from the Discovery Project in Quebec.
Source: Durango Resources.
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  • Durango Resources (DGO) has closed the first tranche of its $820,000 non-brokered private placement
  • It issued 8,166,667 flow-through units priced at $0.09 per unit for gross proceeds of $735,000
  • The company will use the proceeds to fund exploration activities on its 100-per-cent-owned properties in the Abitibi Greenstone Belt near Chibougamau and Nemaska, Quebec
  • Durango is a natural resources company exploring and developing mineral properties in Quebec and B.C.
  • Durango Resources (DGO) is unchanged, trading at $0.055 per share

Durango Resources (DGO) has closed the first tranche of its $820,000 non-brokered private placement.

It issued 8,166,667 flow-through units priced at $0.09 per unit for gross proceeds of $735,000.

Each flow-through unit consists of one flow-through common share and one-half of one share purchase warrant.

Each warrant is exercisable into one common share priced at $0.18 until December 27, 2024.

The company will use the proceeds to fund exploration activities on its 100-per-cent-owned properties in the Abitibi Greenstone Belt near Chibougamau and Nemaska, Quebec.

Its Discovery Property, located 100 km north of Chibougamau, is approximately 60 km southwest of the Troilus Mine, which produced over 2,000,000 ounces of gold from 1997-2010 and has remaining indicated and inferred resources of another 8,110,000 ounces.

The remaining tranche of the private placement consists of 1,700,000 non-flow-through units priced at $0.05 per unit to raise gross proceeds of $85,000.

Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The company is the sole owner of a group of properties strategically located in Canada’s largest gold camp in Windfall Lake, Quebec.

Durango Resources (DGO) is unchanged, trading at $0.055 per share as of 9:51 am ET.


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