Duncan Park Announces Proposed Financing

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 today
that it intends to undertake a non-brokered private placement of up to $600,000
of flow-through and/or non-flow-through common shares at a price of $0.05 per
share.


Net proceeds from the proposed best efforts private placement are expected to be
used, depending upon the amount of capital raised, to make the final $125,000
property payment to Camp McMan Red Lake Gold Mines Ltd. required to complete the
earn-in to the McManus patents, fund additional geological mapping and assaying
samples, for current fiscal year working capital needs, and to provide up to
approximately $300,000 in working capital at year-end, which the Company
anticipates will better position it to raise additional flow-through financing
to pursue the recommended exploration program on its properties, and which
should help put the Company in a better financial position for the following
fiscal year.


The Company may pay a 5% cash fee to eligible finders with respect to certain
subscriptions. The Company plans to complete the private placement this summer
through one or more closings.


Completion of the financing remains subject to, among other things, receipt of
all requisite regulatory and other approvals, including that of the
non-interested directors of the Company. Insiders of the Company are expected to
subscribe for a portion of the private placement. A material change report in
respect of the private placement will be filed on SEDAR in accordance with
applicable securities law.


The Company is planning a fall drilling program to follow up on the success of
the winter drilling program (see press release dated April 26, 2012), contingent
upon the availability of flow-through funding.


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 period ended February 29, 2012, 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.
Duncan Park Holdings Corporation (TSXV:DPH)
過去株価チャート
から 5 2024 まで 6 2024