VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 3, 2012) - Discovery Ventures Inc. ("Discovery" or the "Company") (TSX VENTURE:DVN) The Company is also pleased to announce that due to high interest in its private placement, it is increasing the amount offered from the original 8,000,000 units to up to 8,818,000 units. 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 above. As with the original offering, a finder's fee of a combination of cash, shares and/or warrants will 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.
About Discovery Ventures Inc.
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 four core assets including the Willa deposit located 8km south of Silverton in the Slocan mining region; 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.
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AKASH PATEL, President
This press release contains projections and forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of Discovery such as the statement that the closing of the Agreement may occur and that the option may be exercised. There are numerous risks and uncertainties that could cause actual results and Discovery's plans and objectives to differ materially from those expressed in the forward-looking information, including the inability to obtain exchange approval or inability to close the agreement for any reason. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.