Doubleview Capital Corp. (TSX-V: DBV) Announces Proposed Private Placement Financing To Accelerate Hat Project
Doubleview Capital Corp. (“Doubleview”) (TSX-V: DBV) is pleased to announce a proposed non-brokered private placement financing of up to 3,333,333 non-flow-through units (the “NFT Units”) at a price of $0.15 per NFT Unit for gross proceeds of up to $500,000, and 5,000,000 flow-through units (the “FT Units”) at a price of $0.20 per FT Unit for gross proceeds of up to $1,000,000 (see details below).
Proceeds of the flow-through offering will be used to immediately advance the Hat Gold-Copper Porphyry Project in the Sheslay district, northwest British Columbia, where the latest hole has intersected the highest grades encountered to date at the property. Net proceeds of the non-flow-through offering will be used for exploration work as well as general corporate purposes.
“Hole H-23 has launched us into an exciting new phase at the Hat Project where each round of drilling since 2013 has accelerated the discovery process and delivered better results each time,” commented Mr. Farshad Shirvani, Doubleview President and CEO. “We’re gaining a much better overall understanding of this potentially very large system and we’re confident the Lisle Zone connects with other target areas at the Hat.”
Each NFT Unit will comprise one common share of Doubleview and one-half of a common share purchase warrant (a “NFT Warrant”), with each NFT Warrant entitling the holder to purchase one additional common share at $0.20 per share for a period of two years from the date of issue. Each FT Unit will comprise one flow-through common share of Doubleview and one-half of one common share purchase warrant (each whole warrant a “FT Warrant”), with each whole FT Warrant entitling the holder to purchase one additional common share at $0.28 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 average closing price of Doubleview’s common shares is equal to, or greater than, $0.30 and $0.40 respectively 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 6% of the aggregate gross proceeds of the private placement and 6% warrants to registered brokers.
Closing of the private placement is subject to TSX Venture Exchange approval.
Doubleview Capital Corp., a mineral resource exploration and development company, is based in Vancouver, British Columbia, Canada and is publicly traded on the TSX-Venture Exchange [TSX-V: DBV], [OTC: DBLVF], [FSE: 1D4]. Doubleview identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia, Canada. Doubleview increases shareholder value through acquisition and exploration of quality gold, copper and silver properties and the application of advanced state-of-the–art exploration methods. Doubleview’s portfolio of strategic properties provides diversification and mitigates investment risk.
On behalf of the Board of Directors,
Farshad Shirvani, President & Chief Executive Officer
For further information please contact:
Doubleview Capital Corp.
Suite 880,409 Granville Street
Vancouver, BC V6C 1T2
Farshad Shirvani, 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 implement its exploration 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.