Discovery Announces Application to Extend Warrants
June 17 2019 - 7:45AM
Discovery Metals Corp. (TSX-V: DSV) (“Discovery”
or the “Company”) announces it has applied to the TSX Venture
Exchange (the “Exchange”) to extend the term of an aggregate of
31,237,000 outstanding common share purchase warrants (the
“Warrants”) that were issued pursuant to a non-brokered private
placement (the “Private Placement”) as described in the Company’s
news releases dated July 17, 2017, July 19, 2017, and August 17,
2017.
Each Warrant entitles its holder to acquire one
common share of the Company (a “Common Share”) at an exercise price
of $1.00 per Common Share, and each Warrant presently bears an
expiry date of August 17, 2019. No Warrants under the Private
Placement have been exercised to date. The Company is proposing to
extend the expiry date of the Warrants by an additional 18 months,
such that each Warrant will expire on February 17, 2021. The
exercise price of all Warrants will remain unchanged, at the
current exercise price of $1.00 per Common Share.
The proposed extension of the expiration date of
the Warrants is subject to approval by the Exchange.
For further information contact:
Discovery Metals Corp., #701 - 55 University Ave, Toronto, ON
Canada M5J 2H7info@dsvmetals.com
On Behalf of the Board of Directors“Taj Singh”
Taj Singh, M.Eng, P.Eng, CPAPresident, Chief
Executive Officer, and Director
ABOUT DISCOVERY METALSDiscovery
Metals is focused on discovering and advancing high grade
polymetallic deposits in a recently assembled land package of
approximately 150,000 hectares over a large and historic mining
district in northern Coahuila State, Mexico. The portfolio of three
large-scale, drill-ready projects and several earlier-stage
prospects, all with shallow high-grade silver-zinc-lead
mineralization, is situated in a world-class carbonate replacement
deposit belt that stretches from southeast Arizona to central
Mexico. The land holdings contain numerous historical direct-ship
ore workings with several kilometers of underground development. No
modern exploration or exploration drill testing has been ever been
carried out on the properties prior to Discovery’s time on the
projects.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding
Forward-Looking StatementsThis news release may include
forward-looking statements that are subject to inherent risks and
uncertainties. All statements within this news release, other than
statements of historical fact, are to be considered forward
looking. Although the Company believes the expectations expressed
in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future
performance and actual results or developments may differ
materially from those described in forward-looking statements.
Factors that could cause actual results to differ materially from
those described in forward-looking statements include fluctuations
in market prices, including metal prices, continued availability of
capital and financing, delays in receipt of required permits, and
general economic, market or business conditions. There can be no
assurances that such statements will prove accurate and, therefore,
readers are advised to rely on their own evaluation of such
uncertainties. We do not assume any obligation to update any
forward-looking statements except as required under applicable
laws.
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