19:02:00 EDT Tue 16 Apr 2024
Enter Symbol
or Name
USA
CA



Doubleview Capital Corp
Symbol DBV
Shares Issued 62,498,633
Close 2015-05-01 C$ 0.18
Market Cap C$ 11,249,754
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Doubleview Capital closes final tranche of financing

2015-05-04 18:02 ET - News Release

Mr. Farshad Shirvani reports

DOUBLEVIEW CAPITAL CORP. (TSX-V: DBV) CLOSES FINAL TRANCHE OF PRIVATE PLACEMENT

Doubleview Capital Corp. has closed the final tranche of its non-brokered private placement financing announced on Feb. 26, 2015. Doubleview issued a total of 1.6 million non-flow-through (NFT) units at a price of 15 cents per NFT unit for gross proceeds of $240,000 and 2,500 flow-through (FT) units at a price of 20 cents per FT unit. Under the entire private placement, Doubleview issued a total of 2,852,500 FT units for gross proceeds of $570,500 and 1.6 million NFT units for proceeds of $240,000.

Each NFT unit will comprise one common share of Doubleview and one-half of a common share purchase warrant, with each NFT warrant entitling the holder to purchase one additional common share at 20 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 28 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, 25 cents and 40 cents, respectively, 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 final tranche, Doubleview paid a finder a cash commission of $12,600 and issued the finder 84,000 non-transferable warrants. Each finder's warrant is exercisable on the same terms as the NFT warrants described above.

The securities issued under the financing will be subject to a hold period expiring on Sept. 5, 2015, pursuant to applicable Canadian securities laws and the rules of the TSX Venture Exchange.

Doubleview will use the proceeds for its exploration program on the Hat copper-gold porphyry project and general working capital purposes.

We seek Safe Harbor.

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