VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 20, 2014) - Discovery Ventures Inc. (TSX VENTURE:DVN)(FRANKFURT:0DV) ("Discovery" or "the Company"), is pleased to announce that it has retained Ward Kondas to provide investor relations services for the Company.
Mr. Kondas has 14 years of public market experience in the conventional and alternative energy space in both corporate communications and corporate finance roles and formerly served with Allegiant Financial Group Inc., where he managed the company's investment banking and operational advisory business, covering corporate finance, mergers & acquisitions and public and private equity funding.
Mr. Kondas will provide investor relations services to the Company for a period of six month, subject to the right of the Company to terminate the engagement by providing 30 days' notice, in exchange for $12,500 a month and the grant of options to purchase up to 400,000 common shares of the Company (each, a "Share") at a price of $0.25 per Share. The options granted to Mr. Kondas vest over a one year period with 25% vesting every three months.
The Company also granted options to acquire up to 5,332,000 Shares to employees, officers, directors and consultants of the Company at a price of $0.25 per Share for a period of 5 years.
About Discovery Ventures Inc.
Discovery is an exploration and development stage company focused on the WillaMAX project which is prospective for gold. A summary of the project is provided in a recent WillaMAX Preliminary Economic Assessment (PEA) released May 26, 2014 as amended June 20, 2014 prepared by Wayne M. Ash, P.Eng. The WillaMAX project would combine the Willa copper-gold resource with processing facilities at the MAX Mine, both located in south east BC. Due diligence is underway for project financing that is anticipated to facilitate the completion of key acquisitions and advance engineering and permitting work for both sites. The MAX Mine acquisition includes existing permits, a modern mill & concentrator and sizeable tax loss pool
On behalf of the Board of Directors,
"Akash Patel"
Akash Patel, President, CEO and Director, Discovery Ventures Inc.
This press release contains forward-looking information that involve 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. 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: (i) adverse market conditions; (ii) risks inherent in the mineral exploration industry in general; and (iii) the inability of Discovery to complete the project financing. 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. Except as required by law, Discovery does not intend to update these forward-looking statements.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Ron Birch
250-545-0383
info@discoveryventuresinc.com
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