Discovery Harbour arranges $300,000 private placement

Executive Summary

• Discovery Harbour Resources Corp. announced a non‑brokered private placement of up to 5 million units at C$0.06 per unit, targeting gross proceeds of up to C$300,000.
• Each unit consists of one common share and one warrant (exercisable at C$0.075 per share for five years).
• Proceeds are earmarked for general working capital; the offering may be closed in multiple tranches subject to customary conditions and a four‑month hold period.

Key Details

• Units Offered: Up to 5,000,000 units (each = 1 common share + 1 warrant).
• Price per Unit: C$0.06.
• Gross Proceeds Target: Up to C$300,000.
• Warrant Terms: One‑share purchase warrant per unit; exercise price C$0.075; exercisable for five years from closing date.
• Closing Structure: May occur in multiple closings as subscriptions are received; each closing subject to corporate and regulatory approvals, including TSX‑V approval.
• Hold Period: Securities subject to a hold period expiring four months and one day after the closing date.
• Use of Proceeds: General working capital.
• Finder’s Fee: Company may pay a finder’s fee within limits permitted by TSX‑V policies.

Notable Quotes

(No direct quotes were provided in the release.)