April 29, 2021
April 29, 2021. Vancouver, B.C. – Marvel Discovery Corp. (TSX-V: MARV), (Frankfurt: O4T1), (IMTFF: OTC PINKS); (“Marvel” or the “Company”). Further to the Company’s news releases of March 17, 2021 and April 23, 2021, the Company is pleased to announce that it has obtained a final order from the Supreme Court of British Columbia approving the previously announced plan of arrangement under sections 288 and 291 of the Business Corporations Act (British Columbia) (the “Arrangement”) involving Power One Resources Corp. (“Power One”).
The Company and Power One anticipate implementing the Arrangement on or about May 13, 2021. Holders of Marvel shares as of the close of business on May 7, 2021 will be entitled to receive one common share in the capital of Power One (each, a “Power One Share”) for every five common shares held in the Company. Power One will also issue 5,000,000 Power One Shares to Marvel pursuant to the Arrangement.
In accordance with TSX Venture Exchange policy, the following are the relevant dates pertaining to Power One’s distribution of its shares to the Marvel shareholders:
Due Bill Trading Date: May 6, 2021
Record Date: May 7, 2021
Payable or Distribution Date: May 13, 2021
Ex-Distribution Date:May 14, 2021
Due Bill Redemption Date: May 15, 2021
As previously announced, the Company received the required shareholder approval in connection with the Arrangement at its special meeting of shareholders held on April 23, 2021.
Shareholders are cautioned that there is no certainty that the Arrangement will be completed on the terms currently proposed or at all. Additional information about the Arrangement are detailed in the Company’s Information Circular filed on the Company’s profile on SEDAR at www.sedar.com.
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 – Au Prospects)
- Atikokan, Ontario (BlackFly – Au prospect)
- Red Lake, Ontario (Camping Lake – Au prospect)
- Elliot Lake, Ontario (Serpent River/Pecors –Ni-Cu-PGE discovery) & (Uranium- REE’s)
- Quebec (Duhamel –Ni-Cu-Co prospect & Titanium, Vanadium, and Chromium prospect)
- Prince George, British Columbia (Wicheeda North – Rare Earth Elements prospect)