Marvel Increases Private Placement to $1,000,000

Rhea-AI Summary

Marvel Discovery Corp. has announced an increase in its private placement offering to raise up to $1,000,000 due to shareholder demand. Flow-Through units will be priced at $0.13 per unit, consisting of common shares and purchase warrants. Non-Flow-Through units will be available at $0.115, with respective warrants priced at $0.25 and $0.20. Proceeds from the offering will fund exploration projects and general working capital. All issued securities will face a statutory hold period of four months and one day post-closing.

Positive

• Increased private placement offering to raise up to $1,000,000.
• Proceeds will support exploration projects and working capital.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / December 1, 2021 / Marvel Discovery Corp. (TSXV:MARV)(FSE:O4T1)(OTCQB:MARVF); (the "Company") is pleased to announce that due to shareholder demand it has increased the private placement offering previously announced November 24^th, 2021. The Company will now be raising up to $1,000,000 by issuing Flow and Non-Flow Through units.

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.

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/675610/Marvel-Increases-Private-Placement-to-1000000

FAQ

What is the new amount Marvel Discovery Corp. is raising in the private placement?

Marvel Discovery Corp. is raising up to $1,000,000 in the private placement.

What is the price per unit for Flow-Through units in the new offering?

The price per unit for Flow-Through units is $0.13.

What are the warrants associated with the non-Flow-Through units?

The warrants for non-Flow-Through units allow holders to purchase shares at $0.20.

How long is the hold period for securities issued in the offering?

The hold period for securities issued is four months and one day after closing.

What will the funds from the offering be used for?

Funds will be used for exploration projects and general working capital.