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Marvel Discovery Corp
Symbol MARV
Shares Issued 69,923,772
Close 2021-05-13 C$ 0.11
Recent Sedar Documents

Marvel completes Power One spinout

2021-05-13 19:26 ET - News Release

Mr. Karim Rayani reports

MARVEL DISCOVERY UPDATE ON SPINOUT TRANSACTION

Further to the news releases of March 17, 2021, April 23, 2021, and April 29, 2021, Marvel Discovery Corp.'s previously announced plan of arrangement under the Business Corporations Act (British Columbia) involving Power One Resources Corp. has been completed. The arrangement was approved by special resolution at a special meeting of shareholders held on April 23, 2021. The company obtained a final order approving the arrangement from the Supreme Court of British Columbia on April 28, 2021, and the arrangement became effective on May 13, 2021.

Pursuant to the arrangement, holders of Marvel shares as of the close of business on May 7, 2021, received one common share in the capital of Power One for every five common shares held in the company. Power One has also issued five million Power One shares to Marvel pursuant to the arrangement.

It is the intention of Power One to raise new capital and to seek a listing on the TSX Venture Exchange; however, there is no assurance Power One will be successful in doing so.

Additional information about the arrangement is detailed in the company's information circular filed on the company's profile on SEDAR.

About Marvel Discovery Corp.

Marvel, listed on the TSX Venture Exchange for over 25 years, is a Canadian-based emerging resource company. The company is systematically exploring its extensive property positions in:

  • Exploits zone, Newfoundland (Slip and Victoria Lake -- gold prospects);
  • Atikokan, Ont. (BlackFly -- Au prospect);
  • Red Lake, Ont. (Camping Lake -- Au prospect);
  • Quebec (Duhamel -- nickel, copper and cobalt prospect and titanium, vanadium and chromium prospect).

We seek Safe Harbor.

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