Marvel Discovery Corp. announced a non-brokered private placement of 4.3 million flow-through units at a price of CAD 0.07 per FT unit for the gross proceeds of CAD 301,000 and 1.25 million non flow-through units at a price of CAD 0.06 per NFT unit for the gross proceeds of CAD 75,000; for total aggregate gross proceeds of CAD 376,000 on August 3, 2023. Each FT unit consists of one flow-through common share and one-half of one common share purchase warrant, each whole warrant entitling the holder to subscribe for and purchase one non-flow-through common share at a price of CAD 0.15 for a period of 24 months following the issuance date.

Each NFT unit consists of one non flow-through common share and one common share purchase warrant; each warrant entitling the holder to subscribe for and purchase one non flow-through common share at a price of CAD 0.10 for a period of 24 months following the issuance date. The company paid finder's fees of CAD 26,320 in cash and issued 388,500 finders warrants will be paid in connection with the transaction. Each finder's warrant entitles the holder thereof to subscribe for and purchase one non-flow-through common share at a price of CAD 0.15 for a period of 24 months following the issuance date.

All securities issued in connection with the transaction will be subject to a statutory hold period expiring four months and one day after closing of the transaction. Completion of the transaction, and payment of the finder's fee are subject to the final approval of the TSX Venture Exchange. The transaction included participation from two placees.