TORONTO, ONTARIO--(Marketwire - May 22, 2012) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Duncan Park Holdings Corporation (TSX VENTURE:DPH)(OTCQX:DCNPF) announced that it has issued $150,000 of common shares at a price of $0.05 per share, pursuant to its previously announced private placement.
The Company issued an aggregate of 3,000,000 "flow-through" and "non-flow-through" shares pursuant to the non-brokered private placement. Proceeds will be used to finance the Company's exploration program on its Red Lake properties, and to conserve non-flow-through working capital.
Insiders of the Company subscribed for approximately 89% of the private placement. The common shares issued pursuant to the private placement are subject to a four month hold period.
The financing was approved by the non-interested directors of the Company. A material change report in respect of the private placement will be filed on SEDAR in accordance with applicable securities law. The report could not be filed at least 21 days prior to closing as material information concerning the private placement was not then known by the Company.
About Duncan Park
Duncan Park is a Toronto-based mineral exploration company exploring for gold and other precious metals in Ontario's prolific Red Lake gold mining district. The Company is party to earn-in option agreements with respect to the contiguous Dome and McManus claim groups.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information with respect to Duncan Park's proposed private placement and exploration plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Duncan Park to be materially different from those expressed or implied by such forward-looking information, including risks related to private placement financings and exploration plans, such as market conditions and obtaining necessary financing and requisite approvals, risks related to option and joint venture arrangements, as well as risks associated with the exploration, development and mining industry such as economic factors, future commodity prices, changes in foreign exchange and interest rates, government regulation, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with exploration and development activities, availability of skilled labour and equipment, the speculative nature of gold exploration and development, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Duncan Park's management's discussion and analysis for the year ended November 30, 2011, available on www.sedar.com
. Although Duncan Park has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Duncan Park does not undertake to update any forward-looking information contained herein, except in accordance with applicable securities laws.