By Devika Patel
Knoxville, Tenn., July 16 - Duncan Park Holdings Corp. announced it has issued 4,380,667 units at C$0.30 per unit, completing its previously announced non-brokered private placement for C$1.3 million, down from the initial estimate of up to C$1.5 million.
Each unit is comprised of one share, one-half share warrant exercisable for six months and one-half share warrant exercisable for 12 months. Each six-month warrant will be exercisable at C$0.45 and each 12-month warrant will be exercisable at C$0.60.
Expiry of the six-month warrants may be accelerated if the 10-day weighted average closing trading price of the company's share is at least C$0.90. Expiry of the 12-month warrants may be accelerated if the 10-day weighted average price is at least C$1.20.
For each series, if any warrants are not exercised before the expiration date, the shares that would have been allotted for the unexercised warrants will instead be issued, pro rata, to any holders that did exercise all of their warrants of that series.
The securities are subject to a four-month hold period expiring Nov. 14.
First Canadian Capital Markets Ltd., Jones, Gable & Co. Ltd. and Pope & Co. Ltd. were paid a finder's fee of C$75,054 and 250,180 finder's warrants. The finder's warrants are exercisable at C$0.30 for 18 months, up from the previously announced 12-month finder's strike price.
Proceeds will be used for exploration and development and for general working capital.
Duncan Park is a Toronto-based mineral exploration company.
| Issuer: | Duncan Park Holdings Corp.
|
| Issue: | Units of one share, one half-share six-month warrant and one half-share 12-month warrant
|
| Amount: | C$1.3 million
|
| Units: | 4,380,667
|
| Price: | C$0.30
|
| Warrants: | One half-share six-month warrant and one half-share 12-month warrant per unit
|
| Warrant expiration: | Six months for half; 12 months for half
|
| Warrant strike price: | C$0.45 for six-month warrants; C$0.60 for 12-month warrants
|
| Agent: | Non-brokered
|
| Pricing date: | June 19
|
| Settlement date: | July 16
|
| Stock symbol: | TSX Venture: DPH
|
| Stock price: | C$0.26 at close July 13
|
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