Duran Ventures Inc. Provides Corporate Update and Proposes to Amend Warrant Expiry Dates
March 12 2014 - 10:00AM
Marketwired
Duran Ventures Inc. Provides Corporate Update and Proposes to Amend
Warrant Expiry Dates
TORONTO, ONTARIO--(Marketwired - Mar 12, 2014) - Duran Ventures
Inc. (TSX-VENTURE:DRV)(LMA:DRV) (the "Company") wishes to provide
an update on the agreement to sell the concessions comprising the
Aguila and Corongo projects and related assets (the "Transaction"),
as previously announced on March 3, 2014. The Company has selected
March 21, 2014 as the record date for the special meeting of
shareholders which will be held on April 25, 2014 to consider the
Transaction. The Company also wishes to clarify that management, in
support of the Transaction, have agreed to waive the effect of any
change of control clauses in their management agreements and will
not be receiving any change of control payments in connection with
the Transaction.
The Company also announces that it intends to apply to the TSX
Venture Exchange to amend the terms of a total of 2,500,000
outstanding share purchase warrants issued pursuant to a private
placement that closed on September 28, 2012. These warrants are
currently set to expire on March 28, 2014, as set out in the press
release of the Company on October 1, 2012. The proposed amendment
is limited to the extension of the expiry date of the warrants
without changes to the exercise price of $0.25 per warrant share.
The proposed new date for expiry of the warrants is December 31,
2014.
The Transaction and the proposed amendment to the original
expiry date of the warrants as set forth above are subject to the
approval of the TSX Venture Exchange.
About Duran
Duran Ventures Inc. is a Canadian exploration company focused on
the exploration and development of porphyry copper, precious metal,
and polymetallic deposits in Peru.
Duran Ventures
Inc. is a Canadian resource company listed on the TSX Venture
Exchange and the Bolsa de Valores de Lima: Symbol "DRV"
Neither the
TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
Disclosure Regarding Forward-Looking Statements: This
press release contains certain "Forward-Looking Statements" within
the meaning of applicable securities legislation. We use words such
as "might", "will", "should", "anticipate", "plan", "expect",
"believe", "estimate", "forecast" and similar terminology to
identify forward looking statements and forward-looking
information. Such statements and information are based on
assumptions, estimates, opinions and analysis made by management in
light of its experience, current conditions and its expectations of
future developments as well as other factors which it believes to
be reasonable and relevant. Forward-looking statements and
information involve known and unknown risks, uncertainties and
other factors that may cause our actual results to differ
materially from those expressed or implied in the forward-looking
statements and information and accordingly, readers should not
place undue reliance on such statements and information. Risks and
uncertainties are more fully described in our annual and quarterly
Management's Discussion and Analysis and in other filings made by
us with Canadian securities regulatory authorities and available at
www.sedar.com. While the Company believes that the expectations
expressed by such forward-looking statements and forward-looking
information and the assumptions, estimates, opinions and analysis
underlying such expectations are reasonable, there can be no
assurance that they will prove to be correct. In evaluating
forward-looking statements and information, readers should
carefully consider the various factors which could cause actual
results or events to differ materially from those expressed or
implied in the forward looking statements and forward-looking
information.
Duran Ventures Inc.Jeffrey Reeder(647) 302-3290Duran Ventures
Inc.Dan Hamilton(416)
867-1591info@duranventuresinc.comwww.duranventuresinc.com
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