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TOPIC: DISCOVERY VENTURES INC.(DVN.V) ANNOUNCES THE EXERCISE OF 3,399,331 WARRANTS FOR $679,866

6 years 8 months ago #3335

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Discovery Ventures (DVN.V) Announces Further Increase to Its Offering



VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 5, 2012) - Discovery Ventures Inc. ("Discovery" or the "Company") (TSX VENTURE:DVN) The Company is pleased to announce that due to high interest in its private placement, it is further increasing the amount offered from the increased amount announced December 3rd of up to 8,818,000 units to up to 9,568,000 units effective December 4, 2012. The price of $0.25 per unit and other terms of the offering will remain the same with each unit comprising of one common share and one share purchase warrant with an exercise term of 5 years along the pricing schedule as indicated below. As with the original offering, a finder's fee of a combination of cash, shares and/or warrants may be paid to eligible finders in relation to this financing, all in accordance with regulatory policies. The increase in the private placement is subject to approval by the TSX Venture Exchange. The Company intends to use the proceeds of the offering towards general working capital and its exploration projects.

The Company further wishes to announce that it has closed the 1st tranche of the private placement consisting of 7,108,000 units for an aggregate gross raised amount of $1,777,000. The Company's news release of November 26, 2012 announced the original offering of up to 8,000,000 units at $0.25 per unit, where each unit consists of one common share of the Company and one share purchase warrant with a 5 year term at the exercise price of $0.35 per common share in the first year, $0.40 per common share in the second year and $0.45 per common share from the third to fifth year. The hold period expiry date in respect of the shares comprising the units and the shares issued upon exercise of the shares purchase warrants related to the 1st tranche is April 1, 2013. In connection with the closing of the 1st tranche, finders received an aggregate of $165,650 and 622,600 compensation warrants.
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DISCOVERY VENTURES INC.(DVN.V) ANNOUNCES THE EXERCISE OF 3,399,331 WARRANTS FOR $679,866 6 years 9 months ago #3257

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DISCOVERY VENTURES INC.(DVN.V) ANNOUNCES THE EXERCISE OF 3,399,331 WARRANTS FOR $679,866

VANCOUVER -- Discovery Ventures Inc. ("Discovery", "DVN" or the "Company") (TSX VENTURE: DVN) wishes to announce that it has received proceeds of $ 679,866 upon the exercise of 3,399,331 warrants due on or before October 15, 2012.

President of the Company Akash Patel states, "These funds will be added to strengthen our current financial position. Exercising these warrants has allowed Discovery to raise capital without entering into a Private Placement and will help Discovery acquire additional opportunities in the near future. We are pleased that all of the Company's outstanding warrants have now been exercised or expired."

About Discovery Ventures Inc. Shares issued: 23,641,749 Discovery Ventures' mission is to explore for and develop gold, silver, and copper mineral deposits in the province of British Columbia, Canada. The Company is currently focused on three core assets including the Redbird/Rabbitt claims located in southern British Columbia in the Similkameen Mining Division; The Bralorne claims located in southern British Columbia in the Lillooet Mining Division who's mining camp historic gold production totalled 4.15 million ounces of gold from 52 separate veins; and the Big Creek property located approximately 47 kilometres north east of the Taseko Mines Prosperity Porphyry copper deposit. If you would like to be added to Discovery's news distribution list, please send your email address to This email address is being protected from spambots. You need JavaScript enabled to view it. or visit our website located at www.discoveryventuresinc.com.
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