MARV NEWSWIRE HOT OFF THE PRESS PP CLOSED. WELL DONE KARIM. 2022-12-13 15:00 ET - News Release Mr. Karim Rayani reports MARVEL CLOSES $1,964,904.28 OVERSUBSCRIBED PRIVATE PLACEMENT Marvel Discovery Corp. has closed its oversubscribed non-brokered private placement totalling $1,964,904.28 by issuing 15,283,369 flow-through units and 1.19 million non-flow-through units. Each FT Unit priced at $0.12 per 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 $0.25 for a period of 24 months following the issuance date. Each NFT Unit priced at $0.11 per NFT Unit consists of one 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 $0.18 for a period of 24 months following the issuance date. The aggregate gross proceeds from the sale of the FT Units will be used for exploration and development of the Company's British Columbia, Ontario, Quebec, Saskatchewan, and Newfoundland projects. The aggregate gross proceeds from the sale of the NFT Units will be used for general working capital purposes. Finders' fees totaling $150,680.34 cash and 1,258,670 finders' warrants will be paid in connection with the Offering. Each finders' warrant entitles the holder thereof to subscribe for and purchase one non-flow-through common share at a price of $0.18 for a period of 24 months following the issuance date. 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, and payment of the Finders' fee are subject to the final approval of the TSX Venture Exchange.