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Discovery Energy Metals Corp. reports developments tied to Canadian energy-metals exploration, property acquisition, and exploration financing. The company’s updates center on regional mineral discovery activity, including the Crystal Lake Copper Property in north-central British Columbia, which consists of eight mineral claims acquired by the company.
Recurring news also covers non-brokered private placements, unit offerings made up of common shares and share purchase warrants, and the use of financing proceeds for general working capital and property exploration.
Discovery Energy Metals (CSE: DEMC, OTCQB: DEMCF) intends to complete a non-brokered private placement of up to $1,250,000 in gross proceeds. The financing combines up to 3,000,000 non-flow-through units at $0.25 per unit (up to $750,000) and up to 2,000,000 flow-through units at $0.30 per unit (up to $500,000).
Each Unit includes one common share and a transferable warrant exercisable at $0.30 for 24 months. Each FT Unit includes one flow-through share and a transferable non-flow-through warrant exercisable at $0.35 for 24 months. According to Discovery, proceeds will fund general working capital and property exploration.
The company has also extended its marketing and investor awareness agreement with ClickCatalyst for 60 days at a cost of CAD$250,000 plus taxes. Closing is subject to regulatory approvals, potential finder’s fees may be paid, and all securities will carry a statutory hold period of four months and one day.
Discovery Energy Metals (OTCQB: DEMCF) completed a surface prospecting and geochemical soil sampling program at its Crystal Lake Cu-Mo Property in British Columbia.
The work included 280 B-horizon soil samples and 25 rock samples. The company also signed a 12‑month, $15,000-per-month marketing agreement with Zimtu Capital.
Discovery Energy Metals (OTCQB:DEMCF) has successfully completed a non-brokered private placement, raising gross proceeds of $1,000,000. The offering consisted of 10,000,000 units priced at $0.10 per unit.
Each unit includes one common share and one transferable share purchase warrant. The warrants are exercisable at $0.15 per share for a 24-month period. The proceeds will support general working capital needs and property exploration initiatives. All securities issued are subject to a four-month and one-day statutory hold period.
Discovery Energy Metals (OTCQB:DEMCF) has announced a non-brokered private placement offering to raise up to $1,000,000 through the issuance of 10,000,000 units at $0.10 per unit. Each unit consists of one common share and one transferable share purchase warrant.
The warrants will be exercisable at $0.15 per share for a period of 24 months from issuance. The proceeds will be used for general working capital and property exploration. The offering is subject to regulatory approvals and includes a four-month statutory hold period for all securities issued.
Discovery Energy Metals Corp. (OTCQB:DEMCF) has successfully completed the acquisition of the Crystal Lake Copper Property in British Columbia. The acquisition encompasses eight mineral claims in the Crystal Lake area, furthering the company's mission of advancing domestic energy freedom through regional energy metals discovery in Canada.