DISCOVERY VENTURES INC. CLOSES 2nd and FINAL TRANCHE OF ITS OFFERING
VANCOUVER – Discovery Ventures Inc. (“Discovery” or the “Company”) (TSX VENTURE:DVN) The Company is pleased to announce that it has closed the 2nd and final tranche of its previously announced private placement. The second tranche consisted of 2,460,000 units raising a further $615,000 for the Company. The hold period expiry date in respect of the shares comprising the units and the shares issued upon exercise of the shares purchase warrants related to the 2nd tranche is April 8, 2013.
In connection with the closing of the 2nd tranche, finders received an aggregate of $47,000 and 188,000 compensation warrants.
It total, the Company raised an aggregate gross amount of $2,392,000 through the sale and distribution of 9,568,000 units at a price of $0.25 per unit, each unit comprising of one common share and one share purchase warrant with a 5 year term at the exercise price of $0.35 per common share in the first year, $0.40 per common share in the second year and $0.45 per common share from the third to fifth year.
http://www.discoveryventuresinc.com/category/news/
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