Toronto, Ontario–(Newsfile Corp. – February 16, 2018) – Duran Ventures Inc. (TSXV: DRV) (“Duran” or the “Company”) announces that Mr. Jeffrey Reeder has sold 900,000 common shares of the Company beneficially held by him (the Transaction”) through the facilities of the TSX Venture Exchange (“TSXV”). Prior to the Transaction, Mr. Reeder was the beneficial holder of 6,140,985 common shares of Duran (representing 10.40% of the then issued and outstanding common shares) and 2,884,000 common share purchase warrants of the Company (representing 14.57% of the then issued and outstanding common shares on a fully-diluted basis). As a result of the Transaction Mr. Reeder, of 113-101 Granada Blvd., Sherwood Park, Alberta T8A 4W2, sold 900,000 common shares through the facilities of the TSXV at a price of $0.07 per common share and now has ownership, direction and control over an aggregate of 5,240,985 common shares, representing 8.88% of the issued and outstanding common shares of the Company (or 8,124,985 common shares and 13.12% (or a reduction of 1.45%) of the Company’s then outstanding common shares, assuming exercise of Mr. Reeder’s common share purchase warrants on a partially diluted basis).
The Transaction was entered into by Mr. Reeder in the normal course of his investment activity and he intends to use the proceeds to exercise warrants to acquire additional shares in the Company. In the future, Mr. Reeder may acquire additional securities of the Company or dispose of such securities through the market or otherwise subject to a number of factors, including general market and economic conditions, other investment and business opportunities available and other circumstances. This news release is being issued in accordance with National Instrument 62-103 — The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated February 16, 2018. The early warning report will be filed on the System for Electronic Document Analysis and Review (“SEDAR”) under the Company’s profile at www.sedar.com and may be obtained by contacting Dan Hamilton at (416) 867-1591
