Business
Early Warning Press Release Regarding Durango Resources Inc. (the "Issuer")
(via TheNewswire) RICHMOND, BC - TheNewswire - March 17, 2020 - Marcy Kiesman (" Ki...
About this update from Quantum Critical Metals Corp
[{"type":"text","content":"Early Warning Press Release Regarding Durango Resources Inc. (the \"Issuer\")(via TheNewswire)\n\n \nRICHMOND, BC - TheNewswire - March 17, 2020 - Marcy Kiesman (\"Kiesman\") and Steveston Finance Inc., a corporation controlled by Kiesman (\"SFI\" and together with Kiesman, the \"Acquiror\") have acquired an aggregate of 1,390,593 common shares of the Issuer (the \"Purchased Shares\") and 1,086,593 warrants (the \"New Warrants\", and together with the Purchased Shares, the \"Purchased Securities\"). Kiesman has also been granted options to acquire 900,000 common shares (the \"New Options\", and together with the Purchased Shares and the New Warrants, the \"Additional Securities\") of the Issuer. Each New Warrant is exercisable for one common share of the Issuer (each, a \"Share\") at an exercise price of $0.08 per share until March 11, 2022. \n\n\n \nThe Acquiror filed a previous Early Warning Press Release in respect of the Issuer on June 22, 2017 (the \"Previous EWNR Filing Date\"). \n\n\n \nThe Additional Securities were acquired by the Acquiror: (a) in the open market on the TSX Venture Exchange at various times between June 22, 2018 and the date hereof; (b) pursuant to private placements of the Issuer that closed on July 23, 2019, November 28, 2019 and March 12, 2020; and (c) pursuant to option grants on July 3, 2018, and February 20, 2020 (collectively, the \"Transactions\"). The purchase price of the Purchased Securities was between $0.05 and $0.08 per share, for an aggregate amount of $82,127.00. The New Options were granted to Kiesman for no consideration. The Purchased Shares acquired represent approximately 3.78% of the Issuer's issued and outstanding Shares that were outstanding on the Previous EWNR Filing Date, being 36,764,705 Shares.\n\n\n \nBefore the Transactions, as of the Previous EWNR Filing Date:\n\n\n \n(a) Kiesman held an aggregate of: (i) 288,060 Shares, representing 0.78% of the issued and outstanding Shares; (ii) 250,000 warrants, each exercisable for one Share at an exercise price of $0.10 per share (each, a \"Previous Warrant\" and together with the New Warrants, the \"Warrants\"); and (iii) 525,279 stock options, each exercisable for one Share (the \"Previous Options\"); and\n\n\n \n(b) SFI held an aggregate of: (i) 3,855,000 Shares, representing 10.6% of the issued and outstanding Shares; and (ii) 1...