Offering sells units of common shares, half-share warrants at $0.12
By Devika Patel
Knoxville, Tenn., Dec. 6 - Duran Ventures Inc. said it settled a $1.78 million private placement of units. The deal was conducted by lead agent Kallpa Securities Sociedad Agente de Bolsa SA.
The company sold 14,847,727 units of one common share and one half-share warrant at $0.12 per unit.
The whole warrants are exercisable at C$0.20 for one year. The strike price reflects an 81.82% premium to the Dec. 5 closing share price of C$0.11.
Proceeds will be used for exploration and development of the company's mineral projects in Peru and general corporate purposes.
Toronto-based Duran explores for porphyry copper, precious metals and polymetallic deposits in Peru.
| Issuer: | Duran Ventures Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $1,781,727
|
| Units: | 14,847,727
|
| Price: | $0.12
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.20
|
| Agent: | Kallpa Securities Sociedad Agente de Bolsa SA (lead)
|
| Settlement date: | Dec. 6
|
| Stock symbol: | TSX Venture: DRV
|
| Stock price: | C$0.11 at close Dec. 5
|
| Market capitalization: | C$21.58 million
|
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