In This Article:
Vancouver, British Columbia--(Newsfile Corp. - October 1, 2024) - Doubleview Gold Corp. (TSXV: DBG) (OTCQB: DBLVF) (FSE: 1D4) (the "Company or "Doubleview") is pleased to announce that it has been granted an extension to complete its previously announced (September 10 and 11, 2024) non-brokered private placement for total gross proceeds of up to $4,000,000 (the "Private Placement"). The Company is offering flow-through and non-flow-through Units.
Each flow-through unit (the "FT Unit") consists of one common share of the Company (a "FT Share") and one half of one common share purchase warrant (each, a "Warrant") at a price of $0.55 per FT Unit. Each full Warrant entitles the holder thereof to purchase one common share of the Company (a "Warrant Share") (on a non-"flow-through" basis) at an exercise price of $0.65 per Warrant Share for a period of 24 months following the closing date. The Warrants are subject to early termination if the underlying shares trade at a volume weighted average price equal to or greater than $0.70 for 5 consecutive days in the 24 month period from the date of issuance.
Each non-flow-through unit (the "NFT Unit") consists of one common share of the Company (a "NFT Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to purchase one common share of the Company (a "Warrant Share") at an exercise price of $0.48 per Warrant Share for a period of 6 months following the closing date and thereafter at an exercise price of $0.55 per Warrant Share for a period of 18 months. The Warrants are also subject to an acceleration period.
The Company closed the first tranche of the Private Placement consisting of 821,182 flow-through units and 1,092,947 non-flow-through units in connection with the Private Placement for gross proceeds of $ 1,416,970.
The net proceeds from the Private Placement will be used for contributions and maintenance of the Company's exploration work on its BC projects, particularly for the polymetallic Hat Project, located in northwestern BC, as well as general corporate and working capital purposes. The Common Shares and Warrants issued pursuant to the Private Placement will be subject to a four month hold period required under applicable securities laws. The Private Placement is subject to acceptance by the TSX Venture Exchange.
About Doubleview Gold Corp
A mineral resource exploration and development company is headquartered in Vancouver, British Columbia, Canada. It is publicly traded on the TSX-Venture Exchange (TSXV: DBG), (OTCQB: DBLVF), (GER: A1W038), and (FSE: 1D4). Doubleview focuses on identifying, acquiring, and financing precious and base metal exploration projects across North America, with a strong emphasis on British Columbia. The company enhances shareholder value through the acquisition and exploration of high-quality gold, copper, cobalt, scandium, and silver projects-collectively critical minerals-utilizing cutting-edge exploration techniques.