(Toronto, Ontario – March 12, 2014) Duran Ventures Inc. (TSXV: DRV; BVL: 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.
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”
For additional information, contact: Jeffrey Reeder Tel: (647) 302-3290
or Dan Hamilton (416) 867-1591
Website: www.duranventuresinc.com Email: [email protected]
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.