DOUBLEVIEW CAPITAL CORP. (“Doubleview”) (TSX-V: DBV) is pleased to announce that its board of directors has approved a proposed private placement offering of up to 2,666,666 flow-through common shares of Doubleview at a price of $0.075 per share for gross proceeds of $200,000.
Doubleview anticipates that insiders may subscribe for greater than 25% of the private placement. The issuance of shares to insiders pursuant to the private placement is considered to be a related party transaction subject to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101. Doubleview intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of Multilateral Instrument 61-101 on the basis that participation in the private placement by insiders will not exceed 25% of the fair market value of Doubleview’s market capitalization.
Subject to TSX Venture Exchange approval, Doubleview will pay finders a fee in cash and warrants in connection with subscriptions received from persons that are not insiders of Doubleview. Closing of the proposed offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange. Proceeds of the offering will be used to fund Doubleview’s exploration program on its Hat Property located 95 km west of Dease Lake in northwestern British Columbia.
Investor Relations Firm
Doubleview is also pleased to announce that it has entered into an investor relations agreement with Acqua Capital Group (the “Investor Relations Agreement”). Under the Investor Relations Agreement, Doubleview has agreed to pay a monthly consulting fee of $5,000 and issue options to purchase 150,000 common shares of Doubleview at a price of $0.12 per share. The options are subject to the vesting provisions and the terms and conditions of Doubleview’s stock option plan and the policies of the TSX Venture Exchange. The Investor Relations Agreement, which is subject to the approval of the TSX Venture Exchange, is for a period of 12 months.
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 sale of any securities under the offerings and to obtain TSX Venture Exchange approval of the offerings. 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.