Financing sells 7,333,333 units of one common share and one warrant
By Devika Patel
Knoxville, Tenn., Dec. 10 – Discovery Ventures Inc. said it plans a C$1.1 million private placement of units.
The company will sell 7,333,333 units of one common share and one warrant at C$0.15 per unit.
Each whole warrant is exercisable at C$0.20 for five years. The strike price is a 17.65% premium to the Dec. 9 closing share price of C$0.17.
Proceeds will be used to purchase equipment for the WillaMAX project and for general working capital.
The gold, silver and copper mining company is based in Vancouver, B.C.
| Issuer: | Discovery Ventures Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.1 million
|
| Units: | 7,333,333
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.20
|
| Pricing date: | Dec. 10
|
| Stock symbol: | TSX Venture: DVN
|
| Stock price: | C$0.17 at close Dec. 9
|
| Market capitalization: | C$12.38 million
|
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