EDITOR: | July 4th, 2014

Discovery Ventures-First Tranche Financing and Plans to Advance WillaMAX Project

| July 04, 2014 | No Comments


Discovery Ventures Inc. (“Discovery“) (TSX VENTURE:DVN) announce that it has completed a first tranche of a private placement (the “Financing“) including 7,971,333 units (each, a “Unit“) at a price of $0.15 per Unit for gross proceeds of $1,195,699.95. Each Unit consists of one share of common stock of Discovery (each a “Share“) and one-half of one non-transferrable warrant (each whole warrant, a “Warrant“), with each Warrant entitling the holder to purchase one additional Share at a price of $0.30 for a period of three years. Discovery anticipates closing a second tranche on the same terms as the Financing.

Discovery intends to use the proceeds of the financing to advance the WillaMAX Project, including; acquisition payments, ongoing engineering and design, and for the preparation of various permit application for potential production. A portion of the financing will also be allocated to general working capital. A finder’s fee was paid to one finder comprising $32,025 and warrants to purchase up to 213,500 Shares on the same terms as the Warrants.

All securities issued in connection with the Financing are subject to a statutory four month hold period. None of the securities issued have been registered under the United States Securities Act of 1933, as amended (the “1933 Act“), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.

Akash Patel, President and Director

Discovery Ventures Inc.

This press release contains forward-looking information that involve 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 statements that Discovery is seeking additional financing and the anticipated use of proceed. 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: (i) adverse market conditions; (ii) risks inherent in the mineral exploration industry in general; (iii) the inability of Discovery to complete the remaining private placement; or (iv) the TSXV not approving the private placement. 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. Except as required by law, Discovery does not intend to update these forward-looking statements.

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.


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