Marvel Discovery Corp. (TSXV: MARV | Frankfurt: O4T | OTCQB: MARVF) has announced a non-brokered private placement to raise total proceeds of C$750,000 by issuing up to 12M flow-through units and issuing up to 3.75M non flow-through units.
Each flow-through unit is priced at C$0.05 and consists of one flow-through share and half of one share purchase warrant; each whole warrant will entitle the holder to purchase one non flow- through share at a price of C$0.10 for two years from the closing date.
Each non flow-through unit is priced at C$0.04 and consists of one non-flow through share and one share purchase warrant; each warrant entitling the holder to purchase one non flow-through share at a price of C$0.075 for two years from the closing date.
The gross proceeds from the sale will be used for exploration and development of the company’s projects in Quebec and for general working capital purposes. None of the proceeds will be used for payments to non-arm’s length parties or persons conducting investor relations activities.
Certain Marvel Discovery insiders may participate in the offering and finders’ fees may be paid in accordance with the policies of the TSX Venture Exchange, or TSXV.
All securities issued in connection with the offering will be subject to a statutory hold period expiring four months and one day after closing. Final acceptance is subject to TSXV approval.
Marvel, listed on the TSXV for over 25 years, is a Canadian based emerging resource company. The company is systematically exploring its extensive property positions across Canada in the provinces of Ontario, Newfoundland & Labrador, Quebec, and British Columbia.
For further information, please visit: www.marveldiscovery.ca
To read more articles like this, please visit: www.theassay.com
