Source: fscwire

Press Release: Duran Ventures : Duran Announces Increase in Private Placement Financing

Duran Ventures Inc. (TSXV: DRV; BVL: DRV) (“Duran” or the “Company”) announces that its previously announced $735,000 non-brokered private placement financing (the “Offering”) has been increased to 16,000,000 units (each, a “Unit”) at $0.05 per Unit for total gross proceeds of up to $800,000, subject to approval of the TSX Venture Exchange (the “TSXV”). Each Unit will consist of one common share of the Company (“Common Share”) and one common share purchase warrant (“Warrant”). Each Warrant will entitle the holder to purchase one additional Common Share at an exercise price of $0.10 for a period of two years from the closing of the Offering. In the event that the closing sale price of the Common Shares on the TSXV is greater than $0.20 per share for a period of 20 consecutive trading days at any time after the date that is four months and one day after the closing of the Offering, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof (which notice may take the form of a press release) and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company.

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Jeffrey J. Reeder

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