Doubleview Capital Corp. (“Doubleview”) (TSX-V: DBV) is pleased to announce a proposed non-brokered private placement financing of up to 4,687,500 non-flow-through units (the “NFT Units”) at a price of $0.16 per NFT Unit for gross proceeds of up to $750,000, and 4,687,500 flow-through units (the “FT Units”) at a price of $0.16 per FT Unit for gross proceeds of up to $750,000.
Each NFT Unit will be comprised of one common share of Doubleview and one common share purchase warrant (a “NFT Warrant”), with each NFT Warrant entitling the holder to purchase one additional common share at $0.25 per share for a period of two years from the date of issue. Each FT Unit will be comprised of 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 $0.25 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 for 10 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 8% of the aggregate gross proceeds of the private placement and 8% warrants to registered brokers.
Closing 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 2014 fall drill program on its 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 exploration work as well as general working capital purposes.
About the Hat Copper-Gold Alkalic Porphyry Project
The Hat Copper-Gold Porphyry Project, located southwest of Dease Lake in the Stikine Mining District of Northwestern British Columbia, comprises seven mineral tenures with total area 3561 hectares. The property is equipped with a 12 person camp and is serviced entirely by helicopters. Drilling is contracted to a northern based company affiliated with the local First Nation.
Prospecting, geological, geochemical and geophysical work by Doubleview and others since 1978 and exploration by diamond drilling have resulted in the discovery of a robust alkalic copper gold porphyry system of unknown dimensions. Mineralization occurs in volcaniclastic rocks of the Mesozoic age Stuhini Formation and in dioritic and gabbroic intrusive rocks all of which have been affected by faulting and metamorphism. Doubleview, beginning in May, 2013, has drilled 5994 metres in twenty holes and drilling is continuing. Initial drilling was directed to strong copper-in-soils geochemical anomalies, followed by investigation of induced polarization geophysical chargeability anomalies and associated magnetic anomalies. Core samples have been analysed by accredited commercial laboratories and QA/QC protocols are observed in the field and in the labs. Analytical results have been included in Doubleview news releases that may be viewed on the Company’s website: www.doubleview.ca.
Doubleview’s Discovery Zone, aka the “Lisle” Zone, is closely aligned with a chargeability high geophysical feature that has northwest-southeast dimensions in excess of 1.2 km and width of more than 500 metres. Drill holes directed to a second anomaly located 1.5 km west northwest of the discovery anomaly returned similar copper mineralization and will be further explored in the near future. Several other geochemical and geophysical anomalies have not yet been tested by drilling.
The Company has engaged an archaeological consultant to investigate possible areas of historic significance.
Erik A. Ostensoe, P. Geo, a consulting geologist, is Doubleview’s Qualified Person as defined by National Instrument 43-101 –Standards of Disclosure for Mineral Projects, with respect to the Hat Project and has provided on site supervision of the drilling and has reviewed and approved the technical disclosure of this news release. Mr. Ostensoe is not independent of Doubleview as he is a shareholder and is a co-optionor of the Hat Project.
About Doubleview Capital Corp.
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]. 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 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.