TORONTO, ONTARIO–(Marketwired – June 7, 2016) – The Estate of Ian M.T. McAvity (the “Estate“), Toronto, Ontario, announced today that it disposed of 3,842,666 common shares (“Common Shares“) of Duncan Park Holdings Corporation (the “Company“) (TSX VENTURE:DPH), on May 25, 2016, through the facilities of the TSX Venture Exchange at a price of $0.005 per Common Share, for aggregate gross proceeds to Estate of $19,213.33 (the “Transaction“). The Common Shares sold represented approximately 3% of the issued and outstanding Common Shares of the Company.
Immediately prior to completion of the Transaction, the Estate owned 19,369,740 Common Shares, which represented approximately 15.4% of the Company’s issued and outstanding Common Shares. As a result of the Transaction, the Estate owned 15,527,083 Common Shares, which represented approximately 12.3% of the issued and outstanding Common Shares.
The disposition of the Common Shares was undertaken for estate administration purposes. The 15,527,083 Common Shares the Estate continues to own are being held for investment purposes and depending on various factors including, without limitation, the Company’s financial position, the price levels of the Common Shares, conditions in the securities markets and general economic and industry conditions, and other factors and conditions the Estate deems appropriate, the Estate may, from time to time, increase or decrease its beneficial ownership, control or direction over securities of the Issuer, through market transactions, private agreements or otherwise.