Discovery Engages ICP Securities Inc. for Automated Market Making Services
June 14 2024 - 7:23PM
Discovery Silver Corp. (TSX: DSV, OTCQX: DSVSF)
(“Discovery” or the “Company”) today announced an agreement (the
“Agreement”) to engage the services of ICP Securities Inc. (“ICP”)
to provide automated market making services, including the use of
its proprietary algorithm, ICP Premium™, in compliance with the
policies and guidelines of the TSX Exchange and other applicable
legislation.
Under terms of the Agreement, ICP will receive a
monthly fee, with there being no performance-based factors. No
stock options or other forms of equity-based compensation will be
granted in connection with the Agreement. ICP and its clients may
choose to acquire an interest in the securities of the Company in
the future.
ICP is an arm's length party to the Company.
ICP's market making activity will be primarily aimed at correcting
temporary imbalances in the supply and demand of the Company's
shares. ICP will be responsible for the costs it incurs in buying
and selling the Company's shares, and no third party will be
providing funds or securities for the market making activities.
About ICP Securities
ICP Securities Inc. is a Toronto-based CIRO
dealer-member that specializes in automated market making and
liquidity provision, as well as having a proprietary market making
algorithm, ICP Premium™, that enhances liquidity and quote health.
Established in 2023, with a focus on market structure, execution,
and trading, ICP has leveraged its own proprietary technology to
deliver high- quality liquidity provision and execution services to
a broad array of public issuers and institutional investors.
About Discovery
Discovery’s flagship project is its 100%-owned
Cordero project (the “Project”), one of the world’s largest
undeveloped silver deposits, which is located close to
infrastructure in a prolific mining belt in Chihuahua State,
Mexico. The Feasibility Study completed in February 2024
demonstrates that Cordero has the potential to be developed into a
large-scale, long-life project that generates attractive economic
returns and delivers substantial socio-economic benefits for local
stakeholders. In developing and operating the Project, an important
priority will be maximizing the use of green energy sources, such
as electric vehicles and solar power, with the Company’s objective
being to establish Cordero as the lowest carbon footprint open-pit
mine globally.
On Behalf of the Board of Directors,Tony
Makuch, P.EngPresident, CEO & Director
For further information contact:
Mark
Utting, CFAVP Investor RelationsPhone: 416-806-6298Email:
mark.utting@discoverysilver.comWebsite: www.discoverysilver.com
Neither TSX Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Statements in this news release are not guarantees of future
performance related to the Company’s common shares.
This news release is not for distribution to United States
newswire services or for dissemination in the United States.
This news release does not constitute an offer
to sell or a solicitation of an offer to buy nor shall there be any
sale of any of the securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful, including any of the
securities in the United States of America. The securities have not
been and will not be registered under the United States Securities
Act of 1933, as amended (the “1933 Act”) or any state securities
laws and may not be offered or sold within the United States or to,
or for account or benefit of, U.S. Persons (as defined in
Regulation S under the 1933 Act) unless registered under the 1933
Act and applicable state securities laws, or an exemption from such
registration requirements is available.
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