Vancouver, British Columbia--(Newsfile Corp. - March 27, 2020) - Daura Capital Corp. (TSXV: DUR.P) (the "Company" or "Daura"), a capital pool company listed on the TSX Venture Exchange (the "TSXV") announced that it has closed its previously announced non-brokered private placement for total proceeds of $78,800 (the "Bridge Financing").
A total of 788,000 common shares of the Company were issued at a price of $0.10 per share under the Bridge Financing. No finders fees or commissions were payable in connection with the Bridge Financing. Proceeds from the Bridge Financing will be used to fund costs associated with completing the proposed qualifying transaction with Estrella Gold SAC.
All securities issued under the Bridge Financing are subject to hold periods expiring July 28, 2020. The securities issued under the Bridge Financing have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom.
For further information please contact:
Daura Capital Corp.
543 Granville, Suite 501
Vancouver BC V6C 1X8
William T.P. Tsang CFO and Corporate Secretary
Mark D. Sumner CEO and Director
NEITHER 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.
Completion of the proposed Qualifying Transaction is subject to a number of conditions, including but not limited to TSXV acceptance and, if applicable pursuant to TSXV requirements, majority of the minority shareholder approval. Where applicable, the proposed Qualifying Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Daura cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Daura's control. Such factors include, among other things: risks and uncertainties relating to Daura's ability to complete the proposed Qualifying Transaction; and other risks and uncertainties. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Daura undertakes no obligation to publicly update or revise forward-looking information.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
A halt in trading shall remain in place until after the proposed Qualifying Transaction is completed or such time that acceptable documentation is filed with the TSXV.
Not for Distribution to US Newswire Services or Dissemination in the United States
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53877