Marvel Discovery Corp. (TSXV: MARV | Frankfurt: O4T | MARVF: OTCQB) has closed a non-brokered private placement totaling C$376,000 by issuing 4.3M flow-through units and 1.25M non-flow-through units.
Each C$0.07 flow-through 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 C$0.15 for a period of 24 months following the issuance date.
Each C$0.06 non-flow-through unit consists of one non-flow-through 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 C$0.10 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 nickel, copper, and gold on Marvels’ Québec project. The aggregate gross proceeds from the sale of the units will be used for general working capital purposes.
Finders’ fees totaling C$26,320 cash and 388,500 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 C$0.15 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.
For further information, please visit: www.marveldiscovery.ca
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