Discovery-Corp Arranges $350,000 Private Placement
News Release
July 14, 2011 Symbol: DCY For immediate release
Discovery-Corp Arranges $350,000 Private Placement
Vancouver - Discovery-Corp Enterprises Inc. (the “Company”) announces that it has arranged a private placement of 7,000,000 units at $0.05 per unit for total proceeds of $350,000. 5,000,000 of the units comprise non-flow through shares and 2,000,000 are flow through shares.
Each unit comprises one common share and a share purchase warrant entitling the holder to purchase an additional share in the Company for $0.10 a share if exercised on or before July 13, 2012. Securities will bear legends restricting resale until November 13, 2011. Finder’s fees of 10% are payable.
The Company will use the proceeds from private placement for exploration on the Company’s Galaxy Property, located within the New Afton camp in Kamloops, British Columbia and for working capital.
This transaction is subject to the approval of the TSX Venture Exchange.
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Discovery-Corp is a junior exploration company based in British Columbia, Canada that is focused on finding high quality gold and copper properties. Discovery-Corp’s properties include the Galaxy, located in the New Afton camp in Kamloops, BC and the Rock Creek Ranch, located in North Central Nevada at the intersection of the Getchell and Battle Mountain-Eureka gold trends.
On Behalf of the Board of Directors
Alex Pannu, President
This release has been prepared by Management – The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the corporations control which may cause actual results, performance or achievements of the corporation’s to be materially different from the results, performance or expectation implied by these forward looking statements.
1108 -193 Aquarius Mews * Vancouver * British Columbia * CANADA * V6Z 2Z2 Tel. 778.371.9936 www.discovery-corp.com