/NOT FOR DISSEMINATION IN THE
UNITED STATES OR OVER THE UNITED
STATES NEWSWIRE SERVICES./
VANCOUVER,
April 7, 2014 /CNW/ - Discovery
Harbour Resources Corp. (TSXV:DHR) ("Discovery" or the "Company")
announces a non-brokered private placement to raise gross proceeds
of up to $810,000 through the
issuance of up to 8,100,000 units at $0.10 per unit. Each unit is comprised of one
common share and one half non-transferable common share purchase
warrant. Each warrant is exercisable into one warrant share at an
exercise price of $0.10 for three
years from the closing of the private placement. In the event the
volume weighted average trading price of the Company's shares is
above $0.30 for 20 consecutive
trading days, the Company may provide notice to the warrant holders
to exercise their warrants within 30 days or the warrants will
expire.
An insider of Discovery will subscribe for all of the units
pursuant to the private placement, and such subscription by the
insider will result in that shareholder continuing to hold the
largest single share position in the Company.
All of the securities issued in connection with this private
placement will be subject to a hold period expiring four months and
one day after the closing of the private placement.
Proceeds from the private placement are expected to be used to
fund continued exploration and development of Discovery's Wabassi
Project, the identification and acquisition of new projects if
appropriate, and for general working capital purposes. The private
placement is subject to approval of the TSX Venture Exchange.
ON BEHALF OF THE BOARD OF DISCOVERY HARBOUR RESOURCES
CORP.
"Frank D. (Bruno)
Hegner"
F. D. Hegner
President, CEO, Corporate Secretary and Director
This news release is not an offer of securities of the
Company for sale in the United
States. The above described issuances of securities of the
Company have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent
registration or an applicable exemption from registration. This
news release shall not constitute an offer to sell or solicitation
of an offer to buy nor shall there by any sale of the above
described securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
Disclaimer for Forward-Looking Information
Except for statements of historical fact, this news release
contains certain "forward-looking information" within the meaning
of applicable securities law. Forward-looking information is
frequently characterized by words such as "plan", "expect",
"project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions
"may" occur. Forward-looking information in this press release
includes, but is not limited to, statements regarding expectations
of management regarding the issuance of units pursuant to the
private placement, the identity of the subscribers under the
private placement, the proposed use of proceeds and regulatory
approval. Although the Company believes that the expectations
reflected in the forward-looking information are reasonable, there
can be no assurance that such expectations will prove to be
correct. Such forward-looking statements are subject to risks and
uncertainties that may cause actual results, performance or
developments to differ materially from those contained in the
statements including, without limitation, the risks that the
private placement may not be completed as expected or at all, that
insiders may not subscribe for units pursuant to the private
placement, that the TSX Venture Exchange may not approve the
private placement and such other factors beyond the control of the
Company. Except as required by law, the Company expressly disclaims
any obligation, and does not intend, to update any forward-looking
statements or forward-looking information in this news release.
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.
SOURCE Discovery Harbour Resources Corp.