Doubleview Capital Corp. (TSX-V: DBV) Closes Initial Tranches of Private Placement
Doubleview Capital Corp. (“Doubleview”) (TSX-V: DBV) announces it has closed the initial tranches of its non-brokered private placement financing announced on February 26, 2015. Doubleview issued a total of 2,850,000 flow-through units (“FT Units”) at a price of $0.20 per FT Unit for gross proceeds of $570,000.
Each FT Unit comprises 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 FT Warrants if, at any time, the average closing price of Doubleview’s common shares is equal to, or greater than $0.40, in respect of the FT Units, 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.
In connection with the proceeds raised under the first tranche, Doubleview paid a finder a cash commission of $34,200 and issued the finder 171,000 non-transferable warrants. Each finder’s warrant is exercisable on the same terms as the FT Warrants described above.
The securities issued under the financing will be subject to a hold period expiring on July 5, 2015, in respect of 350,000 FT Units, and July 21, 2015, in respect of 2,500,000 FT Units, pursuant to applicable Canadian securities laws and the rules of the TSX Venture Exchange.
Doubleview will use the proceeds from the flow-through offering for its exploration program on the Hat Copper Gold Porphyry project.
Doubleview is also pleased to announce that Farshad Shirvani, the Chief Executive Officer and director of Doubleview, has exercised a total of 500,000 share purchase warrants at a price of $0.10 per share for gross proceeds of $50,000.
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], [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.