Discovery Metals Announces 2017 AGSM Results
Vancouver, British Columbia – June 29, 2017 – Discovery Metals Corp. (the “Company” or “Discovery Metals”) (TSX-V: DSV.H) is pleased to announce the results of its annual general and special meeting (“AGSM”) of shareholders held on June 27, 2017.
All matters submitted to the shareholders for approval as set out in the Company's Notice of Meeting and Management Information Circular, both dated May 31, 2017, were approved by the requisite majority of votes cast at the AGSM.
The Company’s existing directors being Scott Ackerman, David Nelson and Doug McFaul were re-elected. In addition, the Company would like to welcome Mark O’Dea, Murray John and Brent Ackerman who were also elected to serve on the Company’s Board of Directors.
In connection with the Company’s proposed Change of Business transaction, the Company has also received Exchange approval to advance an additional loan of US$50,000 (the “Loan”) to the vendors of the Puerto Rico mineral concessions. The Loan will be credited towards the first cash payments required under the Puerto Rico Agreement. The Loan has identical terms as the loan previously announced by the Company on May 1, 2017.
Completion of the Company’s proposed Change of Business transaction, as described in the Company’s news releases dated May 1, 2017, June 1, 2017 and June 14, 2017, remains subject to Exchange approval. Trading in the Company’s common shares will remain halted pending further filings with the Exchange. The Company is working diligently to complete the remaining filings with the Exchange, with a view to completing the proposed transaction in short order.
For further information, contact Scott Ackerman at email@example.com.
On Behalf of the Board of Directors of:
DISCOVERY METALS CORP.
Discovery Metals Corp.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable, disinterested shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative. The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.
This news release may include forward-looking statements that are subject to inherent risks and uncertainties. All statements within this news release, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those described in forward-looking statements. Factors that could cause actual results to differ materially from those described in forward-looking statements include fluctuations in market prices, including metal prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under applicable laws