Marvel Discovery (MARV-V) Closes $1.965 Million Oversubscribed Private Placement
Dec 13, '22 - NR
Marvel Discovery is pleased to announce that it has closed its oversubscribed non-brokered private placement totaling $1,964,904.28 (the "Offering") by issuing 15,283,369 flow-through units (the “FT Units”) and 1,190,000 non-flow-through units (the “NFT Units”).
Each FT Unit priced at $0.12 per FT Unit consists of one flow-through common share and one-half of one common share purchase warrant; each whole warrant entitling the holder to subscribe for and purchase one non-flow-through common share at a price of $0.25 for a period of 24 months following the issuance date.
Each NFT Unit priced at $0.11 per NFT Unit consists of one common share and one common share purchase warrant; each warrant entitling the holder to subscribe for and purchase one non-flow-through common share at a price of $0.18 for a period of 24 months following the issuance date.
The aggregate gross proceeds from the sale of the FT Units will be used for exploration and development of the Company's British Columbia, Ontario, Quebec, Saskatchewan, and Newfoundland projects. The aggregate gross proceeds from the sale of the NFT Units will be used for general working capital purposes.
Finders’ fees totaling $150,680.34 cash and 1,258,670 finders’ warrants will be paid in connection with the Offering. Each finders’ warrant entitles the holder thereof to subscribe for and purchase one non-flow-through common share at a price of $0.18 for a period of 24 months following the issuance date.
All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. Completion of the Offering, and payment of the Finders’ fee are subject to the final approval of the TSX Venture Exchange.
About Marvel Discovery Corp.
Marvel, listed on the TSX Venture Exchange for over 25 years, is a Canadian based emerging resource company. The Company is systematically exploring its extensive property positions in:
Newfoundland (Slip, Gander North, Gander South, Victoria Lake, Baie Verte, and Hope Brook – Au Prospects)
Atikokan, Ontario (BlackFly – Au Prospect)
Elliot Lake, Ontario (East Bull - Ni-Cu-PGE Prospect)
Quebec (Duhamel -Ni-Cu-Co prospect & Titanium, Vanadium, and Chromium Prospect)
Prince George, British Columbia (Wicheeda North – Rare Earth Elements Prospect)
The Company’s website is: vwwlpwyy.r.us-west-2.awstrack.me
ON BEHALF OF THE BOARD
Marvel Discovery Corp.
"Karim Rayani"
Karim Rayani
President/Chief Executive Officer, Director
Tel: 604 716 0551 email: k@r7.capital |
