Discovery-Corp Closes Share Exchange Agreement with GRIT
TSX.V Symbol: DCY News Release March 14, 2014 For immediate release
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Discovery-Corp Closes Share Exchange Agreement with GRIT
Vancouver – Discovery-Corp Enterprises Inc. (“Discovery-Corp”) announces further to the Company’s news release of March 4, 2014, the Company has closed a share exchange agreement with Global Resources Investment Trust Plc ("GRIT"), an arm's length party, listed on the London Stock Exchange. Discovery-Corp has received 280,449 ordinary shares of GRIT at a deemed value of one pound per share (the "GRIT Shares"). Discovery-Corp has issued to GRIT 3,000,000 common shares, subject to a four month hold, at a deemed price of seventeen cents per share for total proceeds of 510,000 dollars. No finder’s fee was paid and no warrants were issued.
Discovery-Corp will sell the GRIT Shares through the facilities of the London Stock Exchange. During the first six months, all sales of GRIT Shares will be arranged by GRIT. While Discovery- Corp will seek to maximize the proceeds it receives from the sale of its GRIT Shares, there is no assurance as to the timing of disposition or the amount that will be realized. Funds realized from the sale of the GRIT Shares will be used by Discovery-Corp for working capital.
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On Behalf of the Board of Directors
“Iain Brown”, Chief Financial Officer
Discovery-Corp Enterprises Inc.
Neither the 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.
Certain statements set out in this News Release constitute forward-looking statements. Forward-looking statements (i) are often, but not always, identified by the use of words such as “expect”, “may”, “could”, “anticipate”, or “will”, and similar expressions; (ii) are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. In particular there is no assurance that the Company will realize at least one pound per GRIT Share upon the sale thereof, or that the Company will realize proceeds from the sale of the GRIT Shares in a timely manner.
1108 -193 Aquarius Mews * Vancouver * British Columbia * CANADA * V6Z 2Z2 Tel. 778 371 9936 www.discovery-corp.com