TORONTO, ONTARIO--(Marketwired - Nov. 30, 2015) - Duran Ventures Inc. (TSX VENTURE: DRV) (LMA: DRV) ("Duran" or the "Company") is pleased to announce that the Company has appointed Mr. William R. (Rick) Brown as a Director of the Company. The Company also announces that it has engaged Alpha Resource Advisors S.A.C. ("Alpha"), a Peruvian based advisory firm, as its financial and strategic corporate advisor.
Mr. Brown is a geologist with nearly 40 years' experience in both mineral and petroleum exploration. Since the mid-90's he has lived in South America, principally working as country manager for TSXV and ASX listed companies and has been a key player in a number of successful property acquisitions in Peru, Argentina and Brazil. Mr. Brown is also a large shareholder of Duran, owning more than 4% of the outstanding shares of the Company.
Alpha is a mining industry specific financial and corporate advisory firm that services Latin American counterparties. The firm is led by a well-known and seasoned professional team with extensive careers in the mining and financial industries. The Company has engaged Alpha to provide financial and strategic corporate advisory services regarding all material aspects of the Company's growth as it progresses with the construction and operation of its mineral processing plant in Northern Peru. Alpha has agreed the Company may settle the up-front cash retainer payable by the Company to Alpha by issuing 500,000 common shares of the Company at a deemed price of $0.05 per share in lieu of payment of this debt in cash. The issuance of the common shares is subject to the receipt of all required regulatory and TSX Venture Exchange approvals. All securities issued in connection with this shares for debt transaction will be subject to a hold period of not less than four months and one day.
About Duran
Duran Ventures Inc. is a Canadian exploration company focused on mineral processing and the exploration and development of precious and base metal properties 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.