Discovery Ventures Inc.

Discovery Ventures Inc.

October 08, 2015 02:30 ET

Discovery Ventures Inc. Announces Stock Option Grant and Amendment

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 8, 2015) - Discovery Ventures Inc. (TSX VENTURE:DVN)(FRANKFURT:ODV)(OTCQX:DTVMF) ("Discovery") announces that it has granted options to acquire 500,000 common shares of the Company (each, a "Share") at a price of $0.15 per Share for a period of five years to one consultant of the Company. The options granted to the consultant vest over a one year period with 25% vesting every three months. The Company also announces that it has amended the terms of an aggregate of 3,366,999 options granted to Akash Patel, Ken Phillippe, Walter "Del" Marting and Pop Holdings Ltd. on August 20, 2014. The options were originally granted with the exercise price of $0.25 per share. The Company has determined to reduce the exercise prices of all such options to $0.15 per share. This amendment is subject to the approval of the TSX Venture Exchange and the approval of the shareholders of the Company.

About Discovery

Discovery is an exploration and development stage company focused on the WillaMAX project that is prospective for gold. The WillaMAX project consists of the exploration and development of the Willa property and the refurbishment the Max mill.

On behalf of the Board of Directors,

Dan Omeniuk, Chief Executive Officer and Director, Discovery Ventures Inc.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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