Discovery Harbour Resources Announces Agreement for Sale of Shares

Executive Summary

• Discovery Harbour Resources Corp. entered into an agreement to sell its minority interest in UVAD Technologies Inc. for cash proceeds of $297,000.
• The shares were originally acquired in 2011 as part of a debt settlement and are unrelated to the company’s core mineral exploration business.
• Completion of the sale is subject to TSX Venture Exchange approval, disinterested shareholder consent, and customary closing conditions.

Key Details

• Transaction: Sale of minority shareholding (the “Shares”) in UVAD Technologies Inc.
• Seller: Discovery Harbour Resources Corp. (TSXV: DHR)
• Buyer: An arm’s‑length private company (identity not disclosed).
• Purchase Price: $297,000 cash.
• Background of Shares: Acquired in 2011 via debt settlement; classified as a passive investment unrelated to core operations.
• Rationale: Company is seeking to divest the non‑core asset to focus on sourcing, exploring, and developing mineral properties.
• Closing Conditions: Subject to TSX Venture Exchange approval, approval by disinterested shareholders, and other customary conditions; no finder's fee will be paid.

Notable Quotes

(No executive quotes were provided in the release.)