Brief: Discovery Metals And Levon Resources To Combine

Discovery Mining

30/05/2019 23:00

May 30 (Reuters) - Discovery Metals Corp  DSV.V :
    * DISCOVERY METALS AND LEVON RESOURCES ENTER INTO
ARRANGEMENT
AGREEMENT
    * DISCOVERY METALS CORP - TO COMBINE DISCOVERY AND LEVON
    * DISCOVERY METALS CORP -  UNDER TERMS, SHAREHOLDERS OF
LEVON WILL
RECEIVE 0.55 OF A COMMON SHARE OF DISCOVERY FOR EVERY LEVON
SHARE HELD
    * DISCOVERY METALS -  SHAREHOLDERS REPRESENTING AN AGGREGATE
OF
ABOUT 12% OF LEVON SIGNED LOCKUP AGREEMENTS TO VOTE IN FAVOUR OF
ARRANGEMENT
    * DISCOVERY METALS - ON CLOSING OF DEAL, FORMER SHAREHOLDERS
OF
LEVON WILL HOLD 49.6% OF CO'S COMMON SHARES OUTSTANDING
    * DISCOVERY METALS CORP - BOARDS OF DIRECTORS OF DISCOVERY
AND
LEVON HAVE EACH UNANIMOUSLY APPROVED PROPOSED ARRANGEMENT
    * DISCOVERY METALS - CO TO PROVIDE MANAGEMENT TEAM FOR
COMBINED
COMPANY WITH TAJ SINGH TO SERVE AS PRESIDENT, CEO & MURRAY JOHN
AS CHAIRMAN OF BOARD

Source text for Eikon:  ID:nGNX1495FF 
Further company coverage:  DSV.V 

 ((Reuters.Briefs@thomsonreuters.com;))