Duncan Park Holdings Corporation Announces Closing of Second Tranche of Non-Brokered Private Placement
Toronto, Ontario – June 1, 2020 – Duncan Park Holdings Corporation (OTC Pink: DCNPF) (the “Company” or “Duncan Park“) announces it completed the second tranche of a non-brokered private placement on June 1, 2020 (the “Closing Date“) for gross proceeds of $2,231,500 through the issuance of 22,315,000 common shares (each, a “Common Share“) at a price of $0.10 per Common Share (the “Offering“).
The proceeds of the Offering will be used to develop the Company’s business and for general working capital purposes. All securities issued in connection with the Offering are subject to a hold period of four months plus a day from the Closing Date and the resale rules of applicable securities legislation.
Eligible finders were paid 8% cash plus a number of broker warrants (“Broker Warrants“) equal to 8% of the number of Common Shares sold by the finder in the Offering. The Broker Warrants have an exercise price of $0.10 per Common Share and are exercisable for a period of 24 months from the Closing Date.
The Company has made an application to list its Common Shares on the Canadian Securities Exchange but at this time it is not possible to confirm if or when such listing will occur. The Company will provide further updates with respect to the potential listing as they become available.
For further information, please contact:
Chief Executive Officer
Duncan Park Holdings Corporation
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control.
Generally, such forward-looking information or forward-looking statements 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 may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”.
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward- looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.