Discovery Engages ICP Securities Inc. for Automated Market Making Services
TORONTO, June 14, 2024 (GLOBE NEWSWIRE) — 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.Eng
President, CEO & Director
For further information contact:
Mark Utting, CFA
VP Investor Relations
Phone: 416-806-6298
Email: mark.utting@discoverysilver.com
Website: 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.
