Discovery Capital Corporation

Discovery Capital Corporation

August 21, 2007 20:12 ET

Shareholders Approve Discovery Capital Plan of Liquidation

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 21, 2007) -

At the annual and special meeting of shareholders held today, shareholders of Discovery Capital Corporation ("Discovery") (TSX VENTURE:DVY.Y) approved the previously announced plan for the liquidation of Discovery, including the sale of Discovery's subsidiary, Discovery Capital Management Corp., to management of Discovery (the "Management Purchase") and the distribution of Discovery's assets to its shareholders. Shareholders approved the plan of liquidation by over 99% of the votes cast, including over 99% of the votes cast by minority shareholders in respect of the Management Purchase, as required by the policies of the TSX Venture Exchange.

Discovery will provide further information to shareholders regarding important dates with respect to their ownership of Discovery shares.

About Discovery Capital:

With over 20 years of venture capital experience in British Columbia, Discovery Capital is a venture fund manager through its wholly owned subsidiary, Discovery Capital Management Corp., and venture capital investor specializing in: information technology, communications, health and life sciences, and other advanced technologies. Discovery Capital has proven expertise in strategic planning, management development, innovative financing strategies, corporate governance and positioning for liquidity. Discovery Capital Management Corp. is the manager of British Columbia Discovery Fund (VCC) Inc., a British Columbia venture capital fund that has raised approximately $43 million to date and has investment interests in eleven developing technology companies.

For more information about Discovery Capital Corporation, please visit

John McEwen, President and Co-Chief Executive Officer

Harry Jaako, Chairman and Co-Chief Executive Officer

This news release may include statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. The Company cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what the Company currently foresees.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Discovery Capital Corporation
    John McEwen
    President and Co-CEO
    (604) 683-3000 ext. 106
    Discovery Capital Corporation
    Harry Jaako
    Chairman and Co-CEO
    (604) 683-3000 ext. 105
    Discovery Capital Corporation
    Charles Cook
    (604) 683-3000 ext. 102
    (604) 662-3457 (FAX)