May 30 (Reuters) - Discovery Metals Corp DSV.V :
* DISCOVERY METALS AND LEVON RESOURCES ENTER INTO ARRANGEMENT AGREEMENT
* DISCOVERY METALS CORP - TO COMBINE DISCOVERY AND LEVON
* DISCOVERY METALS CORP - UNDER TERMS, SHAREHOLDERS OF LEVON WILL RECEIVE 0.55 OF A COMMON SHARE OF DISCOVERY FOR EVERY LEVON SHARE HELD
* DISCOVERY METALS - SHAREHOLDERS REPRESENTING AN AGGREGATE OF ABOUT 12% OF LEVON SIGNED LOCKUP AGREEMENTS TO VOTE IN FAVOUR OF ARRANGEMENT
* DISCOVERY METALS - ON CLOSING OF DEAL, FORMER SHAREHOLDERS OF LEVON WILL HOLD 49.6% OF CO'S COMMON SHARES OUTSTANDING
* DISCOVERY METALS CORP - BOARDS OF DIRECTORS OF DISCOVERY AND LEVON HAVE EACH UNANIMOUSLY APPROVED PROPOSED ARRANGEMENT
* DISCOVERY METALS - CO TO PROVIDE MANAGEMENT TEAM FOR COMBINED COMPANY WITH TAJ SINGH TO SERVE AS PRESIDENT, CEO & MURRAY JOHN AS CHAIRMAN OF BOARD