Marvel Discovery (TSXV:MARV)

Marvel Announces $750,000 Private Placement

Marvel Discovery Corp. (TSX-V: MARV), (Frankfurt: O4T), (MARVF: OTCQB); (the “Company”) is pleased to announce a non-brokered private placement (the “Offering”) to raise total proceeds of $750,000 by issuing up to 12,000,000 flow-through units (the “FT Units”) and issuing up to 3,750,000 non flow-through units (the “NFT Units”).

Each FT Unit priced at $0.05 per unit will consist of one flow-through share and one-half of one share purchase warrant; each whole warrant entitling the holder to purchase one non flow- through share at a price of $0.10 for a period of two years from the closing date.

Each NFT Unit priced at $0.04 per NFT Unit will consist of one non-flow through share and one share purchase warrant; each warrant entitling the holder to purchase one non flow-through share at a price of $0.075 for a period of two years from the closing date.

The gross proceeds from the sale of the FT Units will be used for exploration and development of the Company’s projects in Quebec. The gross proceeds from the sale of the NFT Units will be used for general working capital purposes. None of the proceeds from the sale of the NFT Units will be used for payments to non-arm’s length parties or persons conducting investor relations activities.

Certain insiders of the Company may participate in the Offering and finders’ fees may be paid in accordance with the policies of the TSX Venture Exchange.

All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing. Final acceptance is subject to TSX Venture approval.

WARRANT REPRICING AND EXTENSION

The Company also announces that it intends to reprice and extend the expiry date of a total of 5,354,476 share purchase warrants issued pursuant to a private placement which closed on December 3, 2021 and December 16, 2021. The warrants consist of:

  • 2,692,693 warrants exercisable at $0.25 per share expiring on December 3, 2023 (the “Group 1 Warrants”);
  • 1,808,522 warrants exercisable at $0.20 per share expiring on December 3, 2023 (the “Group 2 Warrants”); and
  • 853,261 warrants exercisable at $0.20 per share expiring on December 16, 2023 (the “Group 3 Warrants”).

The Company proposes the following amendments:

  • To reprice the Group 1 Warrants to $0.20 per share and extend the expiry date by an additional two years to December 3, 2025;
  • To reprice the Group 2 Warrants to $0.15 per share and extend the expiry date by an additional two years to December 3, 2025; and
  • To reprice the Group 3 Warrants to $0.15 per share and extend the expiry date by an additional two years to December 16, 2025.

All other terms and conditions of the Warrants remain unchanged. The amendment of the Warrants is subject to acceptance by the TSX Venture Exchange.

About Marvel Discovery Corp.

Marvel, listed on the TSX Venture Exchange for over 25 years, is a Canadian based emerging resource company. The Company is systematically exploring its extensive property positions in:

  • Newfoundland (Slip, Gander North, Gander South, Victoria Lake, Baie Verte, and Hope Brook – Au Prospects)
  • Atikokan, Ontario (BlackFly – Au Prospect)
  • Elliot Lake, Ontario (East Bull – Ni-Cu-PGE Prospect)
  • Quebec (Duhamel –Ni-Cu-Co prospect & Titanium, Vanadium, and Chromium Prospect)
  • Prince George, British Columbia (Wicheeda North – Rare Earth Elements Prospect)

The Company’s website is: https://marveldiscovery.ca/

ON BEHALF OF THE BOARD

Marvel Discovery Corp.
“Karim Rayani”
Karim Rayani
President/Chief Executive Officer, Director Tel: 604 716 0551 email: k@r7.capital

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this press release relate to, among other things: completion of the proposed Arrangement. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There is no assurance any of the conditions for closing will be met. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law

Neither 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.

Source

Click here to connect with Marvel Discovery Corp. (TSX-V: MARV), (Frankfurt: O4T), (MARVF: OTCQB);to receive an Investor Presentation

MARV:CA
The Conversation (0)
Marvel Discovery (TSXV:MARV)

Marvel Discovery

Acquisition, Exploration and Development of Mineral Assets in Canada

Marvel Discovery Acquires Strategic Ground In Elliot Lake, ON

Marvel Discovery Acquires Strategic Ground In Elliot Lake, ON

Marvel Discovery Corp. (TSX-V:MARV)(FRA:O4T)(OTCQB:MARVF) ("Marvel" or the "Company") is pleased to announce that it has acquired 100% of additional ground ("Pecors West") east of Elliot Lake to complement its East Bull Property. The additional land package of 805 hectares (ha) brings the land... Keep Reading...
Marvel Resumes Exploration of Gold Anomaly at Victoria Lake

Marvel Resumes Exploration of Gold Anomaly at Victoria Lake

Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T)(OTCQB:MARVF) ("Marvel" or the "Company") is pleased to announce that the Company is planning a till sampling exploration program at its Victoria Lake Property for Q2 2024. The project is being planned as a follow-up to reconnaissance till and... Keep Reading...
Marvel Completes Drilling at Duhamel, Nickel-Copper-Cobalt Project, North of Quebec City

Marvel Completes Drilling at Duhamel, Nickel-Copper-Cobalt Project, North of Quebec City

Marvel Discovery Corp. (TSX-V:MARV)(Frankfurt:O4T)(MARVF:OTCQB); ( "Marvel " or the "Company" ) is pleased to report that the Company has completed drilling operations on its Ni-Cu-Co and Ti-V-Cr Duhamel property (the " Property ") located 350 kilometers (km) north of Quebec City, QC (Figure... Keep Reading...
Marvel Closes Final Tranche of Private Placement

Marvel Closes Final Tranche of Private Placement

Marvel Discovery Corp. (TSXV:MARV)(FSE:O4T)(OTCQB:MARVF) (the "Company") announces that it has closed the final tranche of its previously announced non-brokered private placement (the "Private Placement") by issuing 2,525,000 non flow-through units (the "NFT Units") at $0.04 per NFT Unit for... Keep Reading...
Marvel's CEO Issues Corporate Update Letter to Shareholders

Marvel's CEO Issues Corporate Update Letter to Shareholders

VANCOUVER, BC / ACCESSWIRE/ February 7, 2024 / Marvel Discovery Corp. (TSX-V:MARV)(Frankfurt:O4T)(MARVF:OTCQB); ( "Marvel " or the "Company" ) is pleased to report a corporate update letter in an address to shareholders from its Chief Executive Officer, Karim Rayani.Dear Shareholders ,As we... Keep Reading...
Yellow hard hat surrounded by Australian flags.

Australia’s Mining and Energy Sector Set to Add 22,000 Jobs by 2030

The Australian Resources and Energy Employer Association (AREEA) has released its 2025–2030 workforce forecast, projecting a surge in sector employment as nearly 100 mining and energy developments move ahead.According to the report, 96 projects are “likely to proceed,” creating an estimated... Keep Reading...
Gold bars and silver coins scattered on a surface.

Gold Futures Hit US$4,000 for First Time, Silver Price Retreats

Gold marked a new price milestone on Tuesday (October 7), with futures breaking US$4,000 per ounce. The spot price also hit a fresh record, rising as high as US$3,990.74. The yellow metal's rise follows a summer of consolidation. After several months of relatively flat trading, the price began... Keep Reading...
Gold nuggets on dark ground.

Top 5 Junior Gold Mining Stocks on the TSXV in 2025

Both major and junior gold stocks are seeing heightened interest in 2025 amid a surging gold price, which has climbed more than 50 percent to nearly US$4,000 per ounce since the start of the year and set dozens of new record highs along the way.This staggering rise has been fueled by numerous... Keep Reading...

Latest Press Releases

Related News