Duncan Park Enters into Loan Agreements
22 May 2014 - 10:30PM
Marketwired
Duncan Park Enters into Loan Agreements
TORONTO, ONTARIO--(Marketwired - May 22, 2014) - 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.
Duncan Park Holdings CorporationIan McAvityPresident &
CEO416-203-0860ian@duncanpark.comwww.duncanpark.com
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