Doubleview Capital Corp. (“Doubleview”) (TSX-V: DBV) is pleased to announce a non-brokered private placement financing of up to 8,000,000 non-flow-through units (the “NFT Units”) at a price of $0.05 per NFT Unit for gross proceeds of up to $400,000, and 3,750,000 flow-through units (the “FT Units”) at a price of $0.08 per FT Unit for gross proceeds of up to $300,000.
Each NFT Unit is comprised of one common share of Doubleview and one-half common share purchase warrant (each whole warrant a “NFT Warrant”), with each whole NFT Warrant entitling the holder to purchase one additional common share at $0.10 per share for the first year and $0.15 per share for the second year. Each FT Unit is comprised of one flow-through common share of Doubleview and one common share purchase warrant (“FT Warrant”), with each FT Warrant entitling the holder to purchase one additional common share at $0.15 per share for a period of two years from the date of issue. Doubleview will have the right to accelerate the expiry date of the NFT Warrants and FT Warrants if, at any time, the volume weighted average price of Doubleview’s common shares is equal to, or greater than, $0.20, in respect of the NFT Warrants, and $0.25, in respect of the FT Warrants, for 5 consecutive trading days. In the event of acceleration, the expiry date will be accelerated to a date that is 30 days after Doubleview issues a news release announcing that it has elected to exercise this acceleration right.
Subject to TSX Venture Exchange approval, Doubleview may pay a cash finder’s fee of up to 10% of the aggregate gross proceeds of the private placement and 10% warrant to registered brokers or pay a cash finder’s fee to certain finders of up to 10% of the aggregate gross proceeds of the private placement.
All securities issued pursuant to the private placement will be subject to a four month hold period from the date of issuance. Completion of the private placement is subject to TSX Venture Exchange approval.
The proceeds from the flow-through offering will be used to carry out Doubleview’s fully permitted, 2,000 meter 2012 fall drill program on the highly prospective Hat Copper Gold Porphyry project in northwestern British Columbia, and the net proceeds of the non-flow-through offering will be used for additional drilling and development of additional drill targets as well as general working capital purposes. The Company’s President and CEO Farshad Shirvani commented, “We are extremely excited to begin our fall 2012 drill program.”
About Doubleview Capital Corp.
Doubleview Capital Corp. is a Canadian resource exploration and development company located in Vancouver British Columbia. Doubleview is a publicly trading company on TSX-Venture Exchange under TSX.V: DBV. Doubleview identifies, acquires and finances quality precious and base metal exploration mining projects in North America and more specifically British Columbia, Canada. Doubleview increases shareholder value through strategic and quality Gold, Copper, and Silver projects acquisitions, and through advanced and state of the art exploration methods in the industry.
Doubleview endeavours to increase the odds of exploration success and to mitigate investment risk through diversification. The recent, strategic property acquisitions have strengthened the Company’s property portfolio of Gold, Silver and Copper exploration Projects.
On behalf of the Board of Directors,
Farshad Shirvani, President & Chief Executive Officer
For further information please contact:
Doubleview Capital Corp.
Suite 310, 675 West Hastings Street
Vancouver, BC V6B 1N2
President & CEO
T: (604) 678-9587
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Doubleview cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Doubleview’s control. Such factors include, among other things: risks and uncertainties relating to Doubleview’s ability to complete the proposed private placement financing, implement its drill program on the Hat Property, limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Doubleview undertakes no obligation to publicly update or revise forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.