Discovery Energy arranges $1-million private placement

Executive Summary

• Discovery Energy Metals Corp. announced a non-brokered private placement of up to 10 million units at $0.10 per unit, raising up to $1 million in gross proceeds.
• Each unit consists of one common share and one transferable share purchase warrant, exercisable at $0.15 per share for 24 months.
• Proceeds are designated for general working capital and property exploration, subject to regulatory approvals and a statutory hold period.

Key Details

• Transaction Structure: Non-brokered private placement.
• Units Offered: Up to 10,000,000 units.
• Price: $0.10 per unit.
• Gross Proceeds: Up to $1,000,000.
• Warrant Terms: Each unit includes one transferable share purchase warrant.
• Warrant Exercise Price: $0.15 per common share.
• Warrant Expiration: 24 months from the date of issuance.
• Use of Proceeds: General working capital and property exploration.
• Conditions: Closing is subject to regulatory approvals.
• Hold Period: All securities subject to a statutory hold period of four months and one day.
• Finder’s Fees: The company may pay finders' fees in connection with the offering.