Vancouver, British Columbia--(Newsfile Corp. - February 26, 2018) - Darien Resource Development Corp. (TSXV: DRR) ("Darien" or the "Company") announces the closing of the final tranche of the non-brokered private placement financing (the "Financing") announced on January 29, 2018. The Company has issued 7,913,000 shares (the "Shares") at a price of $0.25 per Share for gross proceeds of $1,978,250. Together with the first tranche, the Financing comprised of 17,466,000 Shares and raised gross proceeds of $4,366,500. A finder's fee of $138,477.51 and 237,388 non-transferable share purchase warrants (each warrant exercisable into one Share at a price of $0.25 for a period of two years) was paid in connection with the final tranche of the Financing in accordance with the policies of the TSX Venture Exchange.
Darien's President and Chief Executive Officer, Grant Ewing, said "With the completion of the Financing, Darien is well capitalized to pursue acquisitions of prospective mineral exploration properties in mining-friendly jurisdictions. We have been working to identify attractive opportunities in strategic commodities and will now be in a position to execute on our strategy to grow and develop Darien."
The Shares issued in connection with the final tranche of the Financing are subject to a four-month restricted resale period expiring on June 27, 2018. Proceeds from the Financing will be used to pursue acquisition opportunities that the Company has identified and for general corporate purposes.
This press release does not constitute an offer of sale of any of the foregoing securities in the United States. None of the foregoing securities have been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act") or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
On behalf of Darien Resource Development Corp.
Grant Ewing, President & CEO
T: 604.484.1232
www.dariencorp.com
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.