August 16, 2016
For immediate release
News Release
TSX.V Symbol: DCY
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Discovery-Corp Enterprises Inc. Announces $240,000 Private Placement
Vancouver - Discovery-Corp Enterprises Inc. (the "Company") (DCY-TSXV) announces that it has arranged a non-brokered at the market private placement of 8,000,000 units ("Units") at a price of $0.03 per Unit for total gross proceeds of $240,000 (the "Offering"). The Offering includes an over-allotment green shoe of up to 1,000,000 additional Units. All of the Units issued will be subject to a four-month hold period. The Offering is subject to the approval of the TSXV.
Each Unit will consist of one common share ("Share") and one share purchase warrant of the Company ("Warrant"). Each whole Warrant will entitle the holder to purchase an additional Share for a period of up to 36 months from the closing date at an exercise price of $0.05 per Share. The proceeds raised from the Offering will be used for working capital to preserve our existing operations and assets with no finder's fees being paid.
On Behalf of the Board of Directors "Iain Brown", Chief Financial Officer
Discovery-Corp Enterprises Inc.
[email protected]
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.
This release has been prepared by Management - The TSX Venture Exchange has not reviewed this news release. Neither the 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.
This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the corporations control which may cause actual results, performance or achievements of the corporation's to be materially different from the results, performance or expectation implied by these forward looking statements. Certain statements set out in this News Release constitute forward-looking statements. Forward-looking statements (i) are often, but not always, identified by the use of words such as "expect", "may", "could", "anticipate", or "will", and similar expressions; (ii) are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward- looking statements.
1108 -193 Aquarius Mews * Vancouver * British Columbia * CANADA * V6Z 2Z2 Tel. 778 371 9936 www.discovery-corp.com