August 1, 2024, Vancouver, B.C. – Marvel Discovery Corp. (TSX-V: MARV) (FRA: O4T) (OTCQB: MARVF) (the “Company”) announces that it has closed a first tranche of its previously announced non-brokered private placement (the “Private Placement”) by issuing 6,666,667 flow-through units (the “FT Units”) at $0.03 per FT Unit for gross proceeds of $200,000.01 (the “First Tranche”).
Each FT Unit consists of one flow-through share of the Company (an “FT Share”) and one-half of one share purchase warrant (a “Warrant”). Each whole Warrant entitles the holder thereof to acquire a non-flow through share (a “Warrant Share”) at an exercise price of $0.075 per Warrant Share for a period of two (2) years.
Finder’s fees consisting of $14,000 cash and 466,666 finder’s warrants (the “Finder’s Warrants”) will be paid to an arm’s length party in connection with the First Tranche. Each Finder’s Warrant is exercisable into one Warrant Share at a price of $0.075 per Warrant Share for a period of two
(2) years.
Proceeds from the First Tranche will be used for the exploration and development of the Company’s projects in Quebec. None of the proceeds from the First Tranche will be used for payments to non-arm’s length parties or persons conducting investor relations activities.
All securities issued in connection with the First Tranche will be subject to a statutory hold period in accordance with applicable Canadian securities laws. The Private Placement is subject to final acceptance of the TSX Venture Exchange.
Chief Executive Officer, Director Tel: 604 716 1036
Email: info@marveldiscovery.ca
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There is no assurance any of the conditions for closing will be met. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.