Duncan Park Holdings Corporation

Duncan Park Holdings Corporation

March 11, 2010 08:09 ET

Duncan Park Announces Proposed Private Placement

TORONTO, ONTARIO--(Marketwire - March 11, 2010) - Duncan Park Holdings Corporation (TSX VENTURE:DPH.H) announced today that it intends to undertake a non-brokered private placement of up to 7,000,000 "flow-through" common shares at a price of $0.05 per share for aggregate gross proceeds of up to $350,000.

Proceeds from the proposed best efforts private placement will be used to finance exploration on the Dome property in Ontario's Red Lake Gold District. As previously announced, Duncan Park has entered into an option agreement with Sphere Resources Inc. to earn a 75% interest in the property. (Please see Duncan Park press release dated March 9, 2010.)

Completion of the private placement remains subject to, among other things, satisfaction of the outstanding conditions with respect to the Dome property option agreement and receipt of all requisite regulatory and other approvals.

Duncan Park may pay a finder's fee with respect to a portion of the private placement. Insiders of the Company may participate for up to approximately 35% of the private placement.

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 option arrangement with respect to the Dome property. 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, such as market conditions and regulatory approvals, obtaining necessary financing and requisite regulatory and other approvals, risks related to option and joint venture arrangements, such as receipt of all requisite regulatory and other approvals, completion of satisfactory due diligence, receipt of a satisfactory National Instrument 43-101 report as may be required, as well as risks associated with the exploration, development and mining industry such as economic factors, future commodity prices, market conditions, changes 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, including the risks of diminishing quantities of grades of reserves, 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, 2009, 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.

Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Duncan Park Holdings Corporation
    Ian McAvity
    Acting President & CEO