Discovery Energy Corp. announced a financing transaction

Discovery Energy Corp. is an oil and gas explorer focused on the Cooper and Eromanga basins in Australia. The Company is engaged in the exploration, development, production and acquisition of conventional and unconventional natural gas, oil, and energy projects. It holds a 100% interest in PEL 512, a petroleum exploration license which covers about 2,369 square kilometers in the Cooper/Eromanga Basin, which is located in Central Australia and spans the north-eastern region of South Australia and the south-western region of Queensland. The license comprises about 584,651 gross acres overlaying portions of the geological system generally referred to as the Cooper and Eromanga basins. The PEL 512 Lycium prospect is the smallest portion of PEL 512 (2,000 acres), PEL 512 South is the next largest portion of PEL 512 (179,000 acres) and PEL 512 West is the largest portion of PEL 512, (403,000 acres) and is the most westerly portion.