Discovery Energy Metals Launches Private Placement for $1.25 Million

Discovery Energy Metals Corp., a Canadian exploration company, has announced a non-brokered private placement to raise up to $1.25 million. The financing involves the issuance of up to 3,000,000 non-flow-through units at $0.25 per unit and 2,000,000 flow-through units at $0.30 per unit.

Each unit includes one common share and one warrant, allowing the purchase of an additional share at $0.30 within 24 months. Each flow-through unit also contains a warrant with a $0.35 exercise price. Proceeds will support working capital and property exploration.

The offering's closing is contingent on regulatory approvals. An agreement with ClickCatalyst Inc. for marketing and investor awareness has been extended for 60 days at a cost of CAD$250,000. Securities from this offering will have a statutory hold period of four months and one day.