April 23, 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 release of March 17, 2021, the Company provides the following update on its previously announced, proposed plan of arrangement (the “Spin-Out”).

At the Company’s special shareholders’ meeting held today, shareholders approved the Spin-Out and the Company’s Arrangement Agreement with its wholly owned subsidiary, Power One Resources Corp. (“Power One”). Pursuant to the Arrangement Agreement, the Company will transfer its interest in the Serpent River/Pecors and Wicheeda North properties (the “Properties”) to Power One in exchange for (i) Power One issuing to the shareholders of the Company, one common share in the capital of Power One (each, a “Power One Share”) for every five common shares held in the Company, (ii) Power One issuing 5,000,000 Power One Shares to Marvel, and (iii) Power One assuming certain liabilities incurred in acquiring, exploring or maintaining the Properties (the “Property Liabilities”).

The Spin-Out requires a final order from the British Columbia Supreme Court, and the approval of the TSXV.  The Company will coordinate with the TSXV regarding a record date and closing date for the distribution of Power One Shares to the Marvel shareholders.  Bulletins in that regard will follow. Shareholders are cautioned that there is no certainty that the Spin-Out will be completed on the terms currently proposed or at all. Additional information about the Spin-Out are detailed in the Company’s Information Circular filed on the Company’s profile on SEDAR at

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)