Marvel Discovery Corp has raised $401,500 to support its mineral exploration efforts at its Canadian properties.
The company issued 1,470,588 Flow-Through Units (FT) and 1,044,828 Non Flow-Through Units (NFT) through a non-brokered private placement, according to a statement.
Marvel said the proceeds from the sale of the FT offering would be used to fund the exploration and development of the company’s British Columbia, Ontario, Quebec, and Newfoundland projects.
READ: Marvel Discovery announces plans to raise up to $400,000 for exploration on its Canadian portfolio of projects
Under the term sheet, each FT unit is priced at $0.17 per and consist of one flow-through share and one-half of one warrant.
Each whole warrant will entitle the holder to subscribe for and purchase one non-flow-through share at $0.30 per share for 24 months following the acceptance date.
Each NFT unit price priced at $0.145 per unit will consist of one share and one common warrant, Marvel said.
Each warrant will allow the holder to subscribe for a purchase one non-flow-through share at a price of $0.25 for 24 months following the acceptance date.
Marvel said Finders’ fees totalling $15,000 would be paid in connection with the offering.
Based in Canada, Marvel is engaged in the acquisition, exploration, and development of diverse metal deposits throughout the country.
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