July 23, 2024, Vancouver, BC – Marvel Discovery Corp. (TSX-V:MARV), (FRA:O4T), (OTCQB:MARVF) (the “Company”) announces that it has arranged a non-brokered private placement (the “Offering”) to raise gross proceeds of up to $250,000 by issuing up to 8,333,334 flow-through units (the “FT Units”) at $0.03 per FT Unit.
Each FT Unit will consist of one flow-through share and one-half of one share purchase warrant (a “Warrant”). Each whole Warrant will entitle the holder thereof to purchase one non-flow through share (a “Warrant Share”) at a price of $0.075 per Warrant Share for a period of two (2) years from the issuance date.
The gross proceeds from the Offering will be used for the exploration and development of the Company’s projects in Quebec. None of the proceeds from the Offering will be used for payments to non-arm’s length parties or persons conducting investor relations activities.
Certain insiders of the Company may participate in the Offering and finders’ fees may be paid in accordance with the policies of the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after the issuance date. The Offering is subject to final acceptance of the TSX Venture Exchange.
The Company also announces that it has cancelled its proposed amendment of 2,000,000 Warrants as previously announced on June 7, 2024. The 2,000,000 Warrants expired on June 28, 2024.
The Company’s website is: https://marveldiscovery.ca/
Karim Rayani
President/Chief Executive Officer, Director Tel: 604 716 0551 email: k@r7.capital
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. Forward- looking statements in this press release relate to, among other things: completion of the proposed Arrangement. 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.