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Discovery Metals Closes $25 Million Private Placement


On June 8, 2020, Discovery Metals Corp. closed the second and final tranche of its non-brokered private placement, for aggregate gross proceeds of $25 million, including a $10 million investment by Mr. Eric Sprott.

The private placement consisted of 45,454,545 units of Discovery at a price of $0.55 per unit, with each unit consisting of one common share and one half of a common share purchase warrant.

Cassels acted for Discovery with a deal team that included Jeff Durno and Andrew Dilts (Securities and Mining).

RELATED EXPERTISE: Securities | Mining