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Discovery Silver Corp. completes $51.75 million marketed public offering

On April 19, 2023, Discovery Silver Corp. (DSV-TSX; DSVSF-OTCQX) (the Company) closed its previously announced marketed public offering of common shares of the Company for aggregate gross proceeds of approximately C$51.75 million (the Offering). The Offering was conducted by a syndicate of agents co-led by Clarus Securities Inc. and Cormark Securities Inc. and including BMO Nesbitt Burns Inc., Eight Capital, and PI Financial Corp. (collectively, the Agents), and consisted of the sale of 43,125,000 Shares, which included the full exercise of the Agents' option at a price of C$1.20 per common share.

The Company intends to use the net proceeds from the Offering to fund the continued advancement and de-risking of its Cordero Project and for working capital and general corporate purposes.

BLG represented the Agents with a team led by Andrew Powers that included Colin Cameron-Vendrig, Jennifer Jiang, Emma Ouellet Lizotte, Francesca Lee and Shanna Stanley-Hasnain.