22:06:01 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Doubleview Capital Corp
Symbol DBV
Shares Issued 55,811,965
Close 2014-12-05 C$ 0.135
Market Cap C$ 7,534,615
Recent Sedar Documents

Doubleview closes $340,100 first tranche of placement

2014-12-05 19:59 ET - News Release

Mr. Farshad Shirvani reports

DOUBLEVIEW CAPITAL CORP. CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT FOR $340,100

Doubleview Capital Corp. has closed the first tranche of its non-brokered private placement financing announced on Nov. 12, 2014. Doubleview issued a total of 1,833,890 flow-through units at a price of 18 cents per FT unit for gross proceeds of $330,100, which represents an oversubscription of $30,100, and 66,666 non-flow-through units at a price of 15 cents per NFT unit for gross proceeds of $10,000. Due to the flow-through offering being oversubscribed, Doubleview has increased its flow-through offering from 1,666,666 FT units to 2,777,777 FT units for gross proceeds of $500,000.

Each NFT unit is composed of one common share of Doubleview and one-half of one common share purchase warrant, with each whole NFT warrant entitling the holder to purchase one additional common share at 20 cents per share until Dec. 4, 2016. Each FT unit is composed of 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 until Dec. 4, 2016. 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 25 cents, in respect of the NFT units, and 30 cents, in respect of the FT units, for five 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 $21,000 and issued the finder 166,666 non-transferable warrants. Each finder's warrant is exercisable on the same terms as the NFT warrants described herein.

The securities issued under the financing will be subject to a hold period expiring on April 5, 2015, 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, and the net proceeds of the non-flow-through offering will be used for general working capital purposes.

Doubleview also announces that Farshad Shirvani, the chief executive officer, president and director of Doubleview, has exercised 500,000 common share purchase warrants at a price of 10 cents per share for total proceeds of $50,000.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.