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Discovery Metals Announces AGM Results

TORONTO, June 29, 2020 (GLOBE NEWSWIRE) -- Discovery Metals Corp. (TSXV: DSV; OTCQX: DSVMF) is pleased to announce the results of voting at its Annual General Meeting held Friday, June 26, 2020. Shareholders voted in favour of all items put forward by the Board of Directors and management. Shareholders voted in favour of the election of all director nominees. The percentage of votes cast for each is as follows:

 Votes For% Votes ForVotes
Withheld
% Votes
Withheld
Taj Singh102,372,33999.9%64,4220.1%
Murray John102,334,88999.9%101,8720.1%
Mark O’Dea102,372,88999.9%63,8720.1%
Jeff Parr102,318,22899.9%118,5330.1%
Daniel Vickerman102,340,27899.9%96,4830.1%
Vic Chevillon102,372,13999.9%64,6220.1%
Jesus Hernandez-Garza102,370,26499.9%66,4970.1%
Moira Smith102,334,83999.9%101,9220.1%

Shareholders also voted in favour of (i) appointing PricewaterhouseCoopers LLP, Chartered Accountants, as auditors of the Company for the ensuing year and authorizing directors to fix their remuneration; (ii) fixing the number of directors on the Company’s Board of Directors at eight (8) persons; (iii) re-approving and ratifying the Company’s Stock Option Plan; (iv) approving the Company’s proposed Restricted Share Unit Plan and Deferred Share Unit Plan. A total of 111,968,238 Discovery common shares were voted, representing 52.9% of total shares issued and outstanding as at the record date of the meeting.

On Behalf of the Board of Directors,

Taj Singh, M.Eng., P.Eng., CPA
President, Chief Executive Officer, and Director

About Discovery
Discovery Metals Corp. (TSX-V: DSV, OTCQX: DSVMF) is a Canadian exploration and development company headquartered in Toronto, Canada, and focused on historic mining districts in Mexico. Discovery’s flagship is its 100%-owned Cordero silver project in Chihuahua State, Mexico. The 35,000-hectare property covers a large district that hosts the announced resource as well as numerous exploration targets for bulk tonnage diatreme-hosted, porphyry-style, and carbonate replacement deposits.

For further information contact:

Forbes Gemmell, CFA
VP Corporate Development & Investor Relations
[email protected]

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

Cautionary Note Regarding Forward-Looking Statements

This news release may include forward-looking statements that are subject to inherent risks and uncertainties. All statements within this news release, other than statements of historical fact, are to be considered forward looking. Although Discovery believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those described in forward-looking statements. Factors that could cause actual results to differ materially from those described in forward-looking statements include fluctuations in market prices, including metal prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. There can be no assurance that the Private Placement will close on the announced terms. Discovery does not assume any obligation to update any forward-looking statements except as required under applicable laws. 

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