Doubleview Capital Corp. (“Doubleview”) (TSX-V: DBV) is pleased to announce that it has agreed to the pricing of its previously announced brokered private placement financing with Raymond James Ltd. (the “Agent”) (see news release dated June 12, 2012). The offering will be comprised of an offering of units of Doubleview (“Units”) at a price of $0.075 per unit for gross proceeds of $300,000 (the “Unit Offering”) and an offering of flow-through common shares of Doubleview (“Flow-Through Shares”) at a price of $0.075 per Flow-Through Share for gross proceeds of $300,000 (the “Flow-Through Offering”).
Each Unit of the Unit Offering will be comprised of one common share of Doubleview and one share purchase warrant (“Warrant”), with each Warrant entitling the holder to purchase one additional common share of Doubleview at a price of $0.15 per share for a period of two years following closing of the offering. If at any time the volume weighted average price of Doubleview’s common shares is equal to, or greater than, $0.25 for 20 consecutive trading days, Doubleview will have the right to accelerate the expiry date of the Warrants to a date that is 30 days after Doubleview issues a news release announcing that it has elected to exercise this acceleration right.
Doubleview will pay the Agent a cash commission equal to 10% of the gross proceeds from the sale of the Units and the Flow-Through Shares and grant the Agent such number of Warrants equal to 10% of the number of Units and Flow-Through Shares sold under the offering (the “Agent’s Warrants”). The Agent’s Warrants will be on the same terms as the Warrants.
The proceeds of the offering will be used for Doubleview’s proposed drill program on the Hat Property and for general corporate purposes.
The offering is subject to certain conditions including, but not limited to, the Agent’s satisfactory due diligence, receipt of all necessary approvals and the acceptance of the TSX Venture Exchange. All securities issued pursuant to the offering will be subject to a four month hold period from the date of issue.
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
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.