Discovery-Corp Enterprises Inc. Announces Closing of Post Consolidated Non- Brokered Private Placement
TSX.V Symbol: DCY News Release January 20, 2020
For immediate release
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Discovery-Corp Enterprises Inc. Announces Closing of Post Consolidated Non- Brokered Private Placement
Vancouver - Discovery-Corp Enterprises Inc. (the “Company”) (DCY-TSXV) announces that, further to its news release dated December 10, 2019, it has closed its non-brokered private placement of 3,500,000 units ("Units") at a price of $0.10 per Unit for total gross proceeds of $350,000 (the "Private Placement"), on a post-consolidated share basis. The 10-for-1 share consolidation previously announced on December 10, 2019 and January 7, 2020 became effective on January 14, 2020. The proceeds raised from the Private Placement will be used for working capital and exploration. No finder’s fees were paid.
Each Unit consists of one common share ("Share") and one share purchase warrant of the Company ("Warrant"). Each whole Warrant will entitle the holder to purchase an additional Share at an exercise price of $0.15 per Share until January 20, 2023. All securities issued pursuant to the Private Placement will be subject to a four-month resale restriction expiring on May 21, 2020.
Three directors of the Company purchased an aggregate of 740,000 Units for an aggregate total of $74,000.
On Behalf of the Board of Directors “Iain Brown”, Chief Financial Officer Discovery-Corp Enterprises Inc.
Discovery-Corp is a junior exploration company based in Vancouver, 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.
This release has been prepared by Management – The TSX Venture Exchange has not reviewed this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this 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. Certain statements set out in this News Release constitute forward-looking statements. Forward-looking statements (i) are often, but not always, identified by the use of words such as “expect”, “may”, “could”, “anticipate”, or “will”, and similar expressions; (ii) are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements.
1108 -193 Aquarius Mews * Vancouver * British Columbia * CANADA * V6Z 2Z2 Tel. 778 371 9936 www.discovery-corp.com