Durango Resources Inc (TSX-V:DGO)
Shares Issued 76,705,500
Last Close 6/4/2021 $0.08
Monday June 07 2021 - News Release
Mr. Robert Kiesman reports
EARLY WARNING PRESS RELEASEIN RESPECT OF DURANGO RESOURCES INC.
This early warning press release for Durango Resources Inc. (the issuer) is being filed in respect of Robert Kiesman, Skeena Gold Fishing Ltd., a corporation controlled by Mr. Kiesman, and Debra Wampler, an individual whose securities are under the control and direction of Mr. Kiesman(collectively, the securityholder).
The securityholder filed a previous early warning press release in respect of the issuer on Aug. 19, 2020. Since the previous EWNR filing date, 1,606,818 warrants of the issuer that were held by the securityholder have expired.
The expired warrants represent approximately 7.08 per cent of the issuer's issued warrants that are outstanding on the date hereof.Before the warrant expiry, as of the previous EWNR filing date:
- Mr. Kiesman held an aggregate of: (i) 3.25 million shares, representing 4.25 per cent of the issued and outstanding shares; and (ii) 1,958,344 warrants, each exercisable for one share at exercise prices of eight cents, 10 cents and 15 cents per share;
- Skeena held an aggregate of: (i) 1,394,000 shares, representing 1.82 per cent of the issued and outstanding shares; and (ii) 913,474 warrants;
- (c) Ms. Wampler held: (i) 536,000 shares, representing 0.70 per cent of the issued and outstanding shares; and (ii) 436,000 warrants.
Therefore, before the warrant expiry on the previous EWNR filing date, the securityholder collectively held: (a) 5.18 million shares, representing 6.78 per cent of the issued and outstanding shares on a non-diluted basis; and (b) 8,387,818 shares, representing 10.5 per cent on a partially diluted basis, assuming exercise of the 3,307,818 warrants but that no other convertible securities of the issuer were exercised.
After the warrant expiry:
- Mr. Kiesman holds an aggregate of: (i) 3.25 million shares, representing 4.24 per cent of the issued and outstanding shares as of the date hereof, being 76,705,500 shares; and (ii) 1,135,000 warrants;
- Skeena holds an aggregate of: (i) 1,394,000 shares, representing 1.81 per cent of the issued and outstanding shares as of the date hereof; and (ii) 130,000 warrants;
- Ms. Wampler holds an aggregate of: (i) 536,000 shares, representing 0.70 per cent of the issued and outstanding shares as of the date hereof; and (ii) 436,000 warrants.
Therefore, after the warrant expiry, the securityholder collectively owns: (i) 5.18 million shares, representing 6.7 per cent of the issued and outstanding shares on a non-diluted basis; and (ii) 6,881,000 shares, representing 8.8 per cent on a partially diluted basis, assuming exercise of the 1,701,000 warrants but that no other convertible securities of the issuer are exercised. Therefore, the securityholder is no longer a reporting insider, as such term in defined in applicable securities laws.
The shares and warrants previously purchased and held by the securityholder were purchased and are presently being held for investment purposes. In the future, the securityholder may acquire additional securities of the issuer or dispose of such securities subject to a number of factors, including general market and economic conditions and other available investment and business opportunities.