DISCOVERY VENTURES INC. ("DVN")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: July 7, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to the second tranche of a Non-Brokered Private Placement announced March 3, 2014 and July 4, 2014:
Number of Shares: 7,971,333 shares
Purchase Price: $0.15 per share
Warrants: 3,985,667 share purchase warrants to purchase 3,985,667 shares
Warrant Exercise Price: $0.30 for a three year period
Number of Placees: 28 placees
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P # of Shares
Akash Patel Y 33,333
Aggregate Pro Group Involvement P 300,000
[2 placees]
Finder's Fee: $32,025 and 213,500 warrants payable to PI Financial Corp.
Each warrant is exercisable at a price of $0.30 for a three year period.
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
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