04:31:19 EDT Tue 16 Apr 2024
Enter Symbol
or Name
USA
CA



Doubleview Capital Corp
Symbol DBV
Shares Issued 44,054,259
Close 2014-03-26 C$ 0.225
Market Cap C$ 9,912,208
Recent Sedar Documents

Doubleview to start Hat drilling March 30

2014-03-27 09:40 ET - News Release

Mr. Farshad Shirvani reports

DOUBLEVIEW CAPITAL CORP. ANNOUNCES COMMENCING 2014 EXPLORATION DRILLING PROGRAM AND ACCELERATION OF EXPIRY DATES OF 2012 PRIVATE PLACEMENT WARRANTS

Doubleview Capital Corp.'s diamond drilling program will commence on March 30, 2014, at the Hat property, located 95 kilometres southwest of Dease Lake in the Sheslay camp of the Stikine mining district of northwestern British Columbia.

The exploration camp on the Hat property is near completion, and necessary material and fuel have been placed on the property. The drilling equipment has now moved to the Golden Bear mine road staging location to be placed on the first drill target. It is anticipated that diamond drilling will commence on March 30, 2014.

Doubleview holds an option to acquire a 100-per-cent interest in the Hat property, subject to a 2-per-cent net smelter return royalty. The Hat property is an early-stage exploration property that is believed to host an alkalic copper-gold porphyry deposit. Such deposits customarily comprise irregular zones of disseminated mineralization within alteration halos close to magnetite, potassium and/or sodium-rich, low-silica intrusions. In addition to historic work by a major exploration company, Doubleview and the property vendors have completed geological, geochemical and geophysical surveys, and have developed the exploration model that is being pursued.

Erik A. Ostensoe, PGeo, a consulting geologist and Doubleview's qualified person within the meaning of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects with respect to the Hat property, 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 property.

Acceleration of warrant expiry date

Doubleview also announces that it has elected to accelerate the expiry date of the warrants issued on Dec. 31, 2012, in connection with its flow-through and non-flow-through private placement unit offerings.

Pursuant to the terms of the 2012 private placement, if the volume-weighted average trading price of Doubleview's shares on the TSX Venture Exchange is above 20 cents per share for five consecutive trading days, Doubleview is entitled to accelerate the expiry date of the warrants to a date 30 calendar days from the date notice of such acceleration is provided to holders of warrants. Doubleview has elected to provide notice of such acceleration to the holders of warrants.

This news release constitutes notice to warrantholders of the new expiry time. Any warrants remaining unexercised after the new expiry time will be cancelled. Effective today, the warrants issued to the purchasers pursuant to the 2012 private placement are set to expire at 5 p.m. (Vancouver time) on April 26, 2014.

Although it is unknown how many warrants will be exercised, if all of the warrants are exercised, Doubleview will receive additional proceeds of $554,450, and a total of 3,813,000 additional common shares of Doubleview will be issued. If all finders' warrants issued in connection with the 2012 private placement are exercised, Doubleview will receive additional proceeds of $40,300, and a total of 403,000 additional common shares of Doubleview will be issued.

How to exercise warrants

Warrantholders who wish to exercise their warrants should instruct their investment adviser and be prepared to provide payment to their adviser firm equal to the exercise price for each warrant exercised. Investors should consult with their investment adviser to confirm the time required to complete this process and other costs associated with the exercise, if any.

Warrantholders who hold a physical certificate wishing to exercise warrants need to provide Doubleview with a certified cheque, bank draft or money order payable to Doubleview Capital, together with the warrant certificate with the exercise appended to the certificate duly completed.

We seek Safe Harbor.

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