Durango Close First tranche of a Non-Brokered Financing

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[{"type":"text","content":"Durango Close First tranche of a Non-Brokered Financing(via TheNewswire)\n \n \nVancouver, BC / TheNewswire / March 29, 2019 - Durango Resources Inc. (TSX.V-DGO) (Frankfurt-86A1) (OTCQB -ATOXF), (the \"Company\" or \"Durango\") announces that it has closed the first tranche of a non-brokered private placement (the \"Financing\") for gross proceeds of $210,324.93. \n\n \n \nThe Financing is comprised of a flow through component (the \"Flow Through Component\") and a non-flow through component (the \"Non-Flow Through Component\"). The Flow Through Component consists of up to 10,000,000 flow through units at $0.09 (\"Flow Through Units\"), with each Flow Through Unit being comprised of one common share (each, a \"Share\") and one share purchase warrant (each, a \"Flow Through Warrant\"). Each Flow Through Warrant is exercisable for one Share at an exercise price of $0.15 for three (3) years. The Non-Flow Through Component consists of up to 1,333,333 non-flow through units at $0.075 (\"Non-Flow Through Units\"), with each Non-Flow Through Unit being comprised of one Share and one share purchase warrant (each, a \"Non-Flow Through Warrant\"). Each Non-Flow Through Warrant is exercisable for one Share at an exercise price of $0.125 for three (3) years. \n\n \n \nThe Company has issued: (a) 2,002,222 Flow-Through Units in the first tranche for proceeds of $180,199.98; and (b) 401,666 Non-Flow Through Units for proceeds of $30,124.95. All the securities issued in the Financing are subject to a four-month hold period. The Financing is subject to the final approval of the TSX Venture Exchange.\n\n \n \nMarcy Kiesman, CEO of Durango stated, \"We are extremely pleased with our IP results to date on the Trove Property and look forward to continuing to work on the delineating drill targets we plan to drill this spring and/or summer. The Windfall Lake gold deposit (held by Osisko Mining) is one of the highest-grade resource-stage gold projects in Canada, and our crew is anxious to begin exploration drilling at Trove which is situated on trend with Osisko's gold mineralization.\"\n\n \n \nAll proceeds raised in the Flow Through Component will be used for flow-through eligible exploration expenses on Durango's Trove Property located in Windfall Lake, Quebec. In connection with this tranche of the offering, the Company paid aggregate finders' fee...

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