Well that didn't last long!!
Termination of new project. PP completed and back to Nevada.
"DISCOVERY HARBOUR ANNOUNCES NON-BROKERED PRIVATE PLACEMENT, PUBLIC RELATIONS CONTRACT AND TERMINATION OF EXCLUSIVITY AGREEMENT
Discovery Harbour Resources Corp. has arranged a non-brokered private placement comprising the issuance of up to 12 million units at a price of five cents per unit for gross proceeds of up to $600,000. Insiders may participate in the offering.
Each Unit will consist of one common share of the Company (each, a "Share") and one common share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder to purchase one Share at a price of $0.10 per Share for a period of one year following the closing of the Offering (the "Closing"), subject to an acceleration provision of the Company whereby, if for any ten (10) consecutive trading days the closing price of the Shares on the TSX Venture Exchange (the "Exchange") exceeds $0.20 at any time commencing (4) months after the Closing and until their expiry date, then the remaining term of the Warrants will be reduced to thirty (30) days, commencing seven (7) days from the end of such ten (10) consecutive trading day period. Finders' fees may be payable in connection with the Offering in accordance with the policies of the Exchange.
All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. Completion of the Offering is subject to the approval of the Exchange. Any participation by insiders in the Offering will constitute a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
The aggregate gross proceeds from the sale of the Offering will be used to pay outstanding debt, working capital and further work on the Company's Caldera project.
None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Marketing Services Agreement
The Company has entered into a Marketing Services Agreement with Peak Investor Marketing Corp. ("Peak") dated October 4, 2019. Under the agreement Peak will provide public relations and marketing services, among others, for a period of 6 months at a cost of $12,000 per month. The Company has also granted to Peak a total of 515,000 stock options exercisable for 12 months at $0.075 per share. These options will vest over 12 months, 25% of the options vesting every 3 months. The agreement with Peak is subject to Exchange approval.
Termination of Exclusivity Agreement
The Company has terminated its exclusivity agreement to negotiate the acquisition of the Hawkins Gold Project in Ontario, Canada. Although the Hawkins Gold Project has attractive potential, the Company has decided to focus on its Caldera epithermal gold project in Nye County, Nevada."
