Discovery Metals Announces Approval of Acquisition From Levon Securityholders
July 26 2019 - 2:51PM
Discovery Metals Corp. (“
Discovery”) (TSXV: DSV)
is pleased to announce the voting results from the special meeting
of the securityholders of Levon Resources Ltd. (“Levon”) held
earlier today. The Plan of Arrangement (“Arrangement”) previously
announced on May 30, 2019, was approved by an overwhelming
majority, approximately 81.15% of the total votes cast by Levon
securityholders.
The arrangement is expected to close on August
2, 2019 following receipt of final court approval and other
customary closing conditions. On closing of the Arrangement, all of
the issued and outstanding Levon common shares, options and
warrants will be exchanged on the basis of 0.55 of a Discovery
common share, option and warrant respectively.
About DiscoveryDiscovery is
focused on discovering and advancing high-grade polymetallic
deposits in a land package of approximately 150,000 hectares
covering a historic mining district in Coahuila State, Mexico. The
portfolio of three large-scale, drill-ready projects and several
earlier-stage prospects, all with shallow high-grade Ag-Zn-Pb
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,
but there was no modern exploration or drill testing on the
properties prior to the work carried out by Discovery. For further
information, please visit Discovery's website at
www.dsvmetals.com.
About LevonLevon is exploring
one of the world’s largest silver resources at its 100%-owned
Cordero Project in Chihuahua State, Mexico. The 37,000 hectare
property covers an entire porphyry district that hosts the
announced resource and numerous exploration targets for bulk
tonnage diatreme-hosted, porphyry-style, and carbonate replacement
deposits. For further information please visit Levon’s website at
www.levon.com, and the news release of Discovery dated May 30, 2019
as filed on SEDAR.
For Further Information:
Discovery Metals Corp.(416) 613-9410info@dsvmetals.com
Neither the TSX Venture Exchange (the
“Exchange”) nor its Regulation Services Provider
(as that term is defined in the policies of the Exchange) accepts
responsibility for the adequacy or accuracy of this release.
This 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
Discovery 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, 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. There can be no assurance that the Levon
Transaction or the Private Placement will close on the announced
terms. Discovery does not assume any obligation to update any
forward-looking statements except as required under applicable
laws.
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