TORONTO, ONTARIO--(Marketwired - Aug. 30, 2013) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Ian M.T. McAvity, Toronto, Ontario, announced today that he acquired an additional 6,395,560 common shares ("Shares") of Duncan Park Holdings Corporation (the "Company") (News - Market indicators) (OTCQX:DCNPF), representing approximately 5.70% of the issued and outstanding Shares of the Company.
Of this aggregate number of Shares, the Offeror acquired (i) 2,500,000 Shares a price of $0.01 per share pursuant to a private placement carried out by the Company in reliance of the temporary relief measures established by the TSX Venture Exchange; and (ii) 3,895,560 Shares at a price of $0.05 per share pursuant to a shares-for-debt transaction carried out by the Company.
Together with Shares he previously held, Mr. McAvity, the President and Chief Executive Officer and a director of the Company, currently holds an aggregate of 17,519,749 Shares, representing approximately 15.60%% of the issued and outstanding Shares on a non-diluted basis. In addition, in the event that 1,000,000 stock options held by Mr. McAvity are exercised, Mr. McAvity would hold 18,519,749 Shares or approximately 16.35% of the issued and outstanding Shares on a partially diluted basis.
Mr. McAvity acquired the Shares, pursuant to the accredited investor exemption under National Instrument 45-106, for investment purposes. Subject to applicable securities laws, Mr. McAvity may, from time to time, increase or decrease his beneficial ownership, control or direction over securities of the Company, through market transactions, private agreements or otherwise.