VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 24, 2012) - Discovery Ventures Inc. ("Discovery", "DVN" or the "Company") (TSX VENTURE:DVN) wishes to announce that it has received proceeds of $ 679,866 upon the exercise of 3,399,331 warrants due on or before October 15, 2012.
President of the Company Akash Patel states, "These funds will be added to strengthen our current financial position. Exercising these warrants has allowed Discovery to raise capital without entering into a Private Placement and will help Discovery acquire additional opportunities in the near future. We are pleased that all of the Company's outstanding warrants have now been exercised or expired."
About Discovery Ventures Inc. Shares issued: 23,641,749
Discovery Ventures' mission is to explore for and develop gold, silver, and copper mineral deposits in the province of British Columbia, Canada. The Company is currently focused on three core assets including the Redbird/Rabbitt claims located in southern British Columbia in the Similkameen Mining Division; The Bralorne claims located in southern British Columbia in the Lillooet Mining Division who's mining camp historic gold production totalled 4.15 million ounces of gold from 52 separate veins; and the Big Creek property located approximately 47 kilometres north east of the Taseko Mines Prosperity Porphyry copper deposit.
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This press release contains projections and forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of Discovery such as the statement that the closing of the Agreement may occur and that the option may be exercised. There are numerous risks and uncertainties that could cause actual results and Discovery's plans and objectives to differ materially from those expressed in the forward-looking information, including the inability to obtain exchange approval or inability to close the agreement for any reason. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.