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Marvel Discovery Corp announced plans to raise up to $400,000 to support exploration at its Canadian mineral properties.
The non-brokered private placement is expected to raise a total of $400,000 by issuing 1,470,588 flow-through units and another 1,034,483 non flow-through units.
The aggregate gross proceeds from the sale of the flow-through offering will be used for exploration and development of Marvel’s British Columbia, Ontario, Quebec, and Newfoundland projects, according to the company.
READ: Marvel Discovery commissions airborne magnetic survey over KLR and Walker Uranium Project in Athabasca Basin
Under the term sheet, each flow-through unit priced at $0.17 per unit will consist of one flow-through share and one-half of one share purchase warrant, with each whole warrant entitling the holder to subscribe for, and purchase, one non-flow-through share at a price of $0.30 for a period of 24 months following the acceptance date.
Each non-flow-through unit is priced at $0.145 per unit and will consist of one share and one share purchase warrant, with each warrant entitling the holder to subscribe for and purchase one non-flow-through share at a price of $0.25 for a period of 24 months following the acceptance date.
A finders’ fees may be paid in connection with the offering.
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas
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