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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Discovery Corp Enterprises Inc | TSXV:DCY | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.07 | 0.05 | 0.07 | 0 | 00:00:00 |
Discovery-Corp Enterprises Inc. (the "Company") (TSX VENTURE:DCY) announces that it has arranged a private placement of 2,000,000 flow-through units at $0.05 per unit and 2,000,000 non flow-through units at $0.05 per unit. Each flow through unit consists of one common share and a share purchase warrant entitling the holder to purchase an additional common share in the Company on or before June 30, 2009 for $0.10. Each non-flow through unit consists of one common share and a share purchase warrant entitling the holder to purchase an additional common share in the Company on or before June 30, 2009 for $0.10. All securities bear legends restricting resale until January 19, 2009. The Company will incur the subscription proceeds allocated to the flow-throw shares as Canadian exploration expense, as defined in the Income Tax Act (Canada). Proceeds from the flow-through shares will be used for further exploration on the Company's wholly owned Galaxy Property, located within the Afton camp in Kamloops, British Columbia. Expenditures will include 3-D modelling and further drilling in order to move to the completion of a resource estimate compliant with NI 43-101. Any finders will receive commissions equal to 10% of the gross proceeds. This transaction is subject to the approval of the TSX Venture Exchange. About Discovery-Corp Discovery-Corp is a junior exploration company based in Vancouver, Canada that is dedicated to finding high quality gold and copper properties. Discovery-Corp's properties include the Galaxy, located in the Afton camp in Kamloops, BC and the Rock Creek Ranch, located in North Central Nevada at the intersection of the Getchell and Battle Mountain-Eureka gold trends. The Company is currently focused on its wholly owned, 10 km2 Galaxy Project located 10 km by road south of Kamloops in the historic Afton mining camp. The Galaxy hosts the Galaxy deposit, which has been the subject of surface and underground exploration since the 1960's and particularly since the development of the Afton Mine in the 1970's and the more recent development proposal of the New Gold New Afton underground project on the same site. On Behalf of the Board of Directors Alex Pannu, President This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the corporations control which may cause actual results, performance or achievements of the corporation's to be materially different from the results, performance or expectation implied by these forward looking statements.
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