Duncan Park Announces Loan Agreement
30 Novembre 2012 - 10:53PM
Marketwired Canada
Duncan Park Holdings Corporation (TSX VENTURE:DPH)(OTCQX:DCNPF) announced that
its board of directors has authorized the Corporation to borrow up to $150,000
from available sources, pursuant to which it has entered into a unsecured term
loan agreement with a non-arm's length party to borrow $75,000 (the "Loan"). The
Loan bears an interest rate of 5% per annum, calculated annually and is due and
payable on or before March 15, 2014.
The Loan was made by Ian McAvity, president, CEO, a director and a 10%+
shareholder of the Corporation.
Proceeds of the Loan will be used for working capital purposes and may be
prepaid by the Corporation prior to its maturity date without penalty.
The financing was approved by non-interested directors of the Corporation. A
material change report in respect of the private placement will be filed on
SEDAR in accordance with applicable securities law. The report could not be
filed at least 21 days prior to closing as material information concerning the
financing was not then known by the Corporation.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Duncan Park Holdings Corporation
Ian McAvity
President & CEO
416-203-0860
ian@duncanpark.com
www.duncanpark.com
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