Marvel Announces $750,000 Private Placement

Rhea-AI Summary

Marvel Discovery Corp. has announced a non-brokered private placement to raise $750,000 through the issuance of Flow-Through and Non-Flow-Through units. Up to 4,615,385 Flow-Through units will be issued at $0.13 each, with each unit comprising one common share and a half warrant, while 1,304,348 Non-Flow-Through units will be issued at $0.115. Proceeds will fund exploration and working capital. All securities will have a four-month hold period following the closing date, pending exchange approval.

Positive

• Secured funding of $750,000 to support exploration and working capital.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / November 24, 2021 / Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T1)(OTCQB:MARVF); (the "Company") is pleased to announce the Company has arranged a non-brokered private placement to raise proceeds of $750,000 by issuing both Flow Through and Non-Flow Through units.

Up to 4,615,385 Flow-Through units will be issued at a price of $0.13 per unit. Each unit consisting of one Flow-Through common share and one-half of one common share purchase warrant; each whole warrant ("Warrant") entitling the holder to subscribe for and purchase one non-flow-through common share ("Warrant Shares") at a price of $0.25 for a period of 24 months following the acceptance date.

Up to 1,304,348 Non-Flow-Through units will be issued at a price of $0.115 per unit. Each unit consisting of one common share and one common share purchase warrant; each warrant ("Warrant") entitling the holder to subscribe for and purchase one non-flow-through common share ("Warrant Shares") at a price of $0.20 for a period of 24 months following the acceptance date.

The aggregate gross proceeds from the sale of the Offering will be used for exploration of the Company's projects and general working capital.

A finders' fees may be paid in connection with the Offering in accordance with the policies of the TSX Venture Exchange (the "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 of the Offering. Completion of the Offering, and payment of the Finders' fee are subject to the approval of the 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. 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: Marvel Discovery Corp.

View source version on accesswire.com:
https://www.accesswire.com/674639/Marvel-Announces-750000-Private-Placement

FAQ

What is Marvel Discovery Corp.'s recent funding announcement?

Marvel Discovery Corp. announced a private placement to raise $750,000 through the issuance of Flow-Through and Non-Flow-Through units.

How many Flow-Through and Non-Flow-Through units will Marvel issue?

Marvel will issue up to 4,615,385 Flow-Through units at $0.13 each and 1,304,348 Non-Flow-Through units at $0.115 each.

What will the proceeds from Marvel's private placement be used for?

The proceeds will be used for exploration of the Company's projects and general working capital.

What is the warrant price for Marvel's Flow-Through units?

The warrants for the Flow-Through units will allow holders to purchase shares at a price of $0.25 for 24 months.

When will the securities from Marvel's offering be tradable?

The securities will be subject to a four-month hold period starting from the closing date of the offering.