Duncan Park Enters into Loan Agreements
22 May 2014 - 10:30PM
Marketwired Canada
Duncan Park Holdings Corporation (TSX VENTURE:DPH) announced that it has entered
into unsecured term loan agreements to borrow a total of $40,000 from two
non-arm's length parties (the "Loans"). The Loans bear an interest rate of 5%
per annum, calculated annually and are due and payable on December 15, 2015.
Loans of $20,000 were made by each of Chairman of the Corporation and the
President/CEO of the Corporation (who is also a 10%+ shareholder). Proceeds from
the Loans will be used for working capital purposes and may be prepaid by the
Corporation prior to their maturity date without penalty.
The Loans were approved by non-interested directors of the Corporation. A
material change report in respect of the Loans 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 Loans 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.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Duncan Park Holdings Corporation
Ian McAvity
President & CEO
416-203-0860
ian@duncanpark.com
www.duncanpark.com
Duncan Park Holdings Corporation (TSXV:DPH)
Historical Stock Chart
From Oct 2024 to Nov 2024
Duncan Park Holdings Corporation (TSXV:DPH)
Historical Stock Chart
From Nov 2023 to Nov 2024
Real-Time news about Duncan Park Holdings Corp (TSX Venture Exchange): 0 recent articles
More Duncan Park Holdings Corporation News Articles