Duncan Park Holdings Corporation

Duncan Park Holdings Corporation

September 19, 2013 16:30 ET

Duncan Park Announces Completion of Private Placement

TORONTO, ONTARIO--(Marketwired - Sept. 19, 2013) -


Duncan Park Holdings Corporation (TSX VENTURE:DPH)(OTCQX:DCNPF) announced today that it has issued an additional 12,500,000 common shares at a price of $0.01 per share pursuant to its previously announced non-brokered private placement (the "Private Placement"). In total, the Company raised $200,000, the maximum amount offered pursuant to the Private Placement, including an earlier tranche that was closed last month.

The Private Placement was priced in reliance of the temporary relief measures established by the TSX Venture Exchange. As previously announced, the principal purpose of the proceeds of the Private Placement is to pay the final $75,000 property payment to complete the earn-in on the McManus property and to provide working capital to maintain or preserve Duncan Park's existing operations, activities and assets.

The Company anticipates that the proceeds from the Private Placement will be used as follows:

Use of Proceeds Amount
1. Final McManus property payment $ 75,000
2. Accounts payable 56,392
3. Estimated additional property related costs (transfer and registration of title) 10,000
4. Estimated regulatory compliance, legal and administrative costs to year-end 39,900
5. Working Capital 18,708
Total $ 200,000

The securities issued pursuant to the Private Placement are subject to a four-month hold period. Insiders of the Company subscribed for $15,000 of shares. The Private Placement was approved by the non-interested directors of the Company. A material change report in respect of the Private Placement 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.

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.

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 the use of proceeds from Duncan Park's private placement. 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 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 period ended May 31, 2013, 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.

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