Non-brokered deal funds exploration of company's Red Lake properties
By Devika Patel
Knoxville, Tenn., Feb. 7 - Duncan Park Holdings Corp. said it plans a non-brokered private placement of units. The deal is slated to raise C$1 million.
The company will sell units of one flow-through common share and one half-share warrant at C$0.105 per unit on a best-efforts basis.
Each whole warrant will be exercisable at C$0.15 for one year. The strike price is a 76.47% premium to C$0.085, the Feb. 4 closing share price.
Proceeds will be used for exploration on the company's Red Lake properties.
Duncan Park is a Toronto-based gold and precious metals exploration company.
| Issuer: | Duncan Park Holdings Corp.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$1 million
|
| Price: | C$0.105
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 7
|
| Stock symbol: | TSX Venture: DPH
|
| Stock price: | C$0.085 at close Feb. 4
|
| Market capitalization: | C$5.58 million
|
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