May 13, 2021. Vancouver, B.C. – Marvel Discovery Corp. (TSX-V: MARV), (Frankfurt: O4T1), (IMTFF: OTC PINKS); (“Marvel” or the “Company”). Further to the Company’s news releases of March 17, 2021, April 23, 2021 and April 29, 2021, the Company is pleased to announce that its previously announced plan of arrangement under the Business Corporations Act (British Columbia) (the “Arrangement”) involving Power One Resources Corp. (“Power One”) has been completed. The Arrangement was approved by special resolution at a special meeting of shareholders held on April 23, 2021. The Company obtained a final Order approving the Arrangement from the Supreme Court of British Columbia on April 28, 2021, and the Arrangement became effective on May 13, 2021.
Pursuant to the Arrangement, holders of Marvel shares as of the close of business on May 7, 2021 received one common share in the capital of Power One (each, a “Power One Share”) for every five common shares held in the Company. Power One has also issued 5,000,000 Power One Shares to Marvel pursuant to the Arrangement.
It is the intention of Power One to raise new capital, and to seek a listing on the TSX Venture Exchange; however there is no assurance Power One will be successful in doing so.
Additional information about the Arrangement is detailed in the Company’s Information Circular filed on the Company’s profile on SEDAR at www.sedar.com.
About Marvel Discovery Corp.
Marvel, listed on the TSX Venture Exchange for over 25 years, is a Canadian based emerging resource company. The Company is systematically exploring its extensive property positions in:
- Exploits Zone, Newfoundland (Slip and Victoria Lake – Au Prospects)
- Atikokan, Ontario (BlackFly – Au prospect)
- Red Lake, Ontario (Camping Lake – Au prospect)
- Quebec (Duhamel –Ni-Cu-Co prospect & Titanium, Vanadium, and Chromium prospect)
The Company’s website is: https://marveldiscovery.ca/
ON BEHALF OF THE BOARD
Marvel Discovery Corp.
“Karim Rayani”
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. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “plans”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements in this press release relate to, among other things: the raising of new capital by Power One, and the proposed listing of Power One common shares on the TSX Venture Exchange. 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. 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. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: sufficient market interest to complete the proposed capital raise; and TSX Venture Exchange approval for listing of the Power One common shares. 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.