Mr. Farshad Shirvani reports
DOUBLEVIEW CAPITAL CORP. (TSX-V: DBV) ANNOUNCES PROPOSED PRIVATE PLACEMENT FINANCING
Doubleview Capital Corp. is proposing a non-brokered private placement financing of up to 666,667 units at a price of 15 cents per unit for gross proceeds of up to $100,000.
Each unit will comprise one common share of Doubleview and one-half of one common share purchase warrant, with each whole 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. Doubleview will have the right to accelerate the expiry date of the warrants if, at any time, the average closing price of Doubleview's common shares is equal to, or greater than, 25 cents 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.
Subject to TSX Venture Exchange approval, Doubleview may pay a finder's a fee in cash and warrants. The finder's warrants will be on the same terms as the warrants under the private placement.
Closing of the private placement is subject to TSX Venture Exchange approval.
The proceeds from the private placement will be used for general working capital purposes.
We seek Safe Harbor.
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