Discovery-Corp Enters into Share Exchange Agreement with GRIT
TSX.V Symbol: DCY News Release March 4, 2014 For immediate release
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Discovery-Corp Enters into Share Exchange Agreement with GRIT
Vancouver – Discovery-Corp Enterprises Inc. (“Discovery-Corp”) announces it has received conditional approval from the TSX Venture Exchange for a share exchange agreement with Global Resources Investment Trust Plc ("GRIT"), an arm's length party, whereby Discovery- Corp will acquire non-restricted common shares in GRIT in exchange for shares of Discovery- Corp. In consideration for acquiring the Discovery-Corp shares, GRIT will issue and deliver to Discovery-Corp 280,449 ordinary shares of GRIT at a deemed value of £1.00 per share (the "GRIT Shares"). Under the agreement, Discovery-Corp will issue to GRIT 3,000,000 common shares, subject to a four month hold, at a deemed price of $0.17 per share for total proceeds of $510,000. There is no finder’s fee being paid and there are no warrants being issued.
GRIT is registered in England and Wales and has applied to be listed on the London Stock Exchange (trading symbol GRIT). GRIT’s objective is for capital appreciation through growth in the junior mining and natural resources sectors worldwide. Discovery-Corp plans to sell the GRIT Shares through the facilities of the London Stock Exchange to realize the proceeds.
This transaction is subject to the final approval of the TSX Venture Exchange and GRIT successfully listing on the London Stock Exchange and the share exchange being completed within 30 days from today’s date.
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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
This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the corporations control which may cause actual results, performance or achievements of the corporation’s to be materially different from the results, performance or expectation implied by these forward looking statements.
1108 -193 Aquarius Mews * Vancouver * British Columbia * CANADA * V6Z 2Z2 Tel. 778 371 9936 www.discovery-corp.com