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Doubleview Capital Corp
Symbol DBV
Shares Issued 53,061,965
Close 2014-08-06 C$ 0.15
Market Cap C$ 7,959,295
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Doubleview arranges $1.5-million private placement

2014-08-07 06:16 ET - News Release

Mr. Farshad Shirvani reports

DOUBLEVIEW CAPITAL CORP. (TSX-V: DBV) ANNOUNCES PROPOSED PRIVATE PLACEMENT FINANCING

Doubleview Capital Corp. is arranging a proposed non-brokered private placement financing of up to 4,687,500 non-flow-through units at a price of 16 cents per NFT unit for gross proceeds of up to $750,000, and 4,687,500 flow-through units at a price of 16 cents per FT unit for gross proceeds of up to $750,000.

Each NFT unit will comprise one common share of Doubleview and one common share purchase warrant, with each NFT warrant entitling the holder to purchase one additional common share at 25 cents 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, with each whole FT warrant entitling the holder to purchase one additional common share at 25 cents 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, 30 cents 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 per cent of the gross proceeds of the private placement and 8 per cent warrants to registered brokers. Closing of the private placement is subject to TSX-V 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 3,561 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-aged 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 5,994 metres in 20 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 analyzed by accredited commercial laboratories and quality assurance/quality control 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.

Doubleview's Discovery zone, also known as the Lisle zone, is closely aligned with a chargeability high geophysical feature that has northwest-southeast dimensions in excess of 1.2 kilometres and width of more than 500 metres. Drill holes directed to a second anomaly located 1.5 kilometres 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, PGeo, 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.

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