News Release
July 14, 2011 Symbol: DCY
For immediate release
Discovery-Corp Arranges $350,000 Private Placement
Vancouver -
Discovery-Corp Enterprises Inc. (the "Company") announces that it has arranged a private placement of 7,000,000 units at $0.05 per unit for total proceeds of $350,000. 5,000,000 of the units comprise non-flow through shares and 2,000,000 are flow through shares.
Each unit comprises one common share and a share purchase warrant entitling the holder to purchase an additional share in the Company for $0.10 a share if exercised on or before July 13, 2012. Securities will bear legends restricting resale until November 13, 2011. Finder’s fees of 10% are payable.
The Company will use the proceeds from private placement for exploration on the Company’s Galaxy Property, located within the New Afton camp in Kamloops, British Columbia and for working capital.
This transaction is subject to the approval of the TSX Venture Exchange.
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Discovery-Corp is a junior exploration company based in British Columbia, Canada that is focused on finding high quality gold and copper properties. Discovery-Corp’s properties include the Galaxy, located in the New Afton camp in Kamloops, BC and the Rock Creek Ranch, located in North Central Nevada at the intersection of the Getchell and Battle Mountain-Eureka gold trends.
On Behalf of the Board of Directors
Alex Pannu, President
[email protected]