TSX-listed Canadian exploration and development company Discovery Metals Corporation has arranged a nonbrokered institutional private placement to raise C$35-million through the issuance of 25.93-million units, at a price of C$1.35 apiece.
Each unit comprises one common share of Discovery and one half of one common share purchase warrant, with each full warrant exercisable at C$1.75 for a period of two years after the date of issuance.