Discovery Energy Metals Corp. Announces Amendment of Sakami and Radisson East Asset Purchase Agreement & OTC Trading Symbol Change

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Discovery Energy Metals Corp. (CSE:DEMC, OTCQB:DCLIF) has modified its asset purchase agreement for the Sakami and Radisson East Lithium Properties in the James Bay lithium district. Under the amended agreement, the company will issue 2.2 million common shares to the vendor, subject to a four-month statutory hold period. The shares will be issued without contractual hold periods but must comply with Canadian Securities Exchange restrictions.

Additionally, following the company's name change on April 1, 2025, its OTC trading symbol will change from "DCLIF" to "DEMCF" effective May 1, 2025. The Frankfurt Stock Exchange symbol "Q3Q0" remains unchanged.

VANCOUVER, BC / ACCESS Newswire / May 2, 2025 / Discovery Energy Metals Corp. (CSE:DEMC)(OTCQB:DCLIF)(FRA:Q3Q0)(WKN: A3EFKA) (the "Company"), a Canadian exploration company focused on advancing domestic energy freedom through regional lithium discovery, is pleased to announce that it has entered into an amending agreement (the "Amending Agreement") with the vendor of the group of claims generally known as the Sakami and Radisson East Lithium Properties (the "Claims"), located in the James Bay lithium district to amend the asset purchase agreement between the parties dated July 24, 2024 (the "Asset Purchase Agreement"). See the news release of the Company dated August 14, 2024 for more information about the Asset Purchase Agreement.

Pursuant to the Amending Agreement, the Company will issue 2,200,000 common shares in the capital of the Company (the "Shares") to the vendor, without any contractual hold periods, as consideration for the Claims. The Shares will be subject to a four-month statutory hold period and any additional resale restrictions which may be imposed by the Canadian Securities Exchange.

Following the Company's name change on April 1, 2025, the Company also announces that its symbol on the OTC will change from "DCLIF" to "DEMCF" effective May 1, 2025. There is no change to the Company's symbol "Q3Q0" on the Frankfurt Stock Exchange.

About Discovery Energy Metals Corp. (CSE:DEMC)(OTCQB:DCLIF)(FRA:Q3Q0)(WKN: A3EFKA)

Discovery Energy Metals Corp. is a Canadian exploration company focused on advancing mineral resource projects in North America. The Company holds a 100% interest in 1,675 mineral claims in Serindac Lake and 2,113 mineral claims in Vaubert Lake for a combined total of approximately 164,283 hectares (~405,952 acres) located in the Nunavik region of Northern Quebec, and with a further total of 303 mineral claims comprising approximately 16,392 hectares (~40,505.5 acres) identified as the Route De Nord, Lac Belanger, Lac Ferland and Lac Roberston properties located across the northern and eastern regions of Québec including the prolific lithium district of the James Bay region. Additionally, the Company is actively advancing its ESN Project for gold exploration in Nevada and evaluating the Koster Dam Project in Central British Columbia through a joint venture with Cariboo Rose Resources. Find out more at: www.discoveryenergymetals.com and follow us on X (formerly twitter), and LinkedIn.

On behalf of the Board of Directors,

Mike Hodge

President & Chief Executive Officer

For further information, please contact:

Discovery Energy Metals Corp.

1450 - 789 West Pender Street,

Vancouver, BC Canada V6C 1H2

Telephone: +1 (604) 681-1568

Email: info@discoveryenergymetals.com

Web: www.discoveryenergymetals.com

Caution Regarding Forward-Looking Information

Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

SOURCE: Discovery Energy Metals Corp.

View the original press release on ACCESS Newswire

FAQ

What is the new OTC trading symbol for Discovery Energy Metals Corp?

Discovery Energy Metals Corp's OTC trading symbol will change from DCLIF to DEMCF, effective May 1, 2025.

How many shares will Discovery Energy Metals Corp issue for the Sakami and Radisson East properties?

Discovery Energy Metals Corp will issue 2.2 million common shares to the vendor as consideration for the Claims.

What is the hold period for the newly issued shares of DCLIF?

The shares will be subject to a four-month statutory hold period and any additional resale restrictions imposed by the Canadian Securities Exchange.

Where are the Sakami and Radisson East Lithium Properties located?

The Sakami and Radisson East Lithium Properties are located in the James Bay lithium district.