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Discovery Silver Files Final Base Shelf Prospectus
TORONTO, March 24, 2023 (GLOBE NEWSWIRE) -- Discovery Silver Corp. (DSV-TSX, DSVSF-OTCQX) (“Discovery” or the “Company”) is pleased to announce that it has file
About this update from Discovery Silver Corp
[{"type":"text","content":" TORONTO, March 24, 2023 (GLOBE NEWSWIRE) -- Discovery Silver Corp. (DSV-TSX, DSVSF-OTCQX) (“Discovery” or the “Company”) is pleased to announce that it has filed its final short form base shelf prospectus in each of the provinces and territories in Canada. The prospectus allows for the sale of Common Shares, Warrants, Subscription Receipts and Units of the Company in one or more series of issuances for aggregate gross proceeds of up to C$300 million for a period of 25 months following the filing. Tony Makuch, CEO, commented: “The filing of our base shelf prospectus reflects the growing maturity of the Company following the recent release of the Preliminary Feasibility Study on our Cordero project and allows us to efficiently access the capital markets at any time over the next 25 months. Our current financial position is strong with approximately C$40 million of cash and no debt on our balance sheet and we are well positioned to complete our 2023 work program at Cordero which is budgeted at C$26 million.” About Discovery Discovery’s flagship project is its 100%-owned Cordero project, one of the world’s largest silver deposits. The PFS completed in January 2023 demonstrates that Cordero has the potential to be developed into a highly capital efficient mine that offers the combination of margin, size and scaleability. Cordero is located close to infrastructure in a prolific mining belt in Chihuahua State, Mexico. Continued exploration and project development at Cordero is supported by a strong balance sheet with cash of approximately C$40 million. On Behalf of the Board of Directors,Tony Makuch, P.EngCEO & Director For further information contact: Forbes Gemmell, CFAVP Corporate DevelopmentPhone: 416-613-9410Email: [email protected]: www.discoverysilver.com FORWARD-LOOKING STATEMENTS: This news release is not for distribution to United States newswire services or for dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (...