14:05:32 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Doubleview Capital Corp
Symbol DBV
Shares Issued 80,944,256
Close 2017-09-27 C$ 0.05
Market Cap C$ 4,047,213
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Doubleview's $580,000 placement fully subscribed

2017-09-28 07:57 ET - News Release

Mr. Farshad Shirvani reports

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

Doubleview Capital Corp. has fully subscribed its non-brokered private placement financing of 11.6 million units at a price of five cents per unit for gross proceeds of $580,000 by insiders and a strategic investor. Each unit will comprise one common share of Doubleview and one common share purchase warrant, with each warrant entitling the holder to purchase one additional common share at five cents per share for a period of five years from the date of issue.

As insiders are subscribing under the private placement financing, it is considered to be a related-party transaction subject to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101. Doubleview is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of Multilateral Instrument 61-101 on the basis that participation in the private placement by insiders will not exceed 25 per cent of the fair market value of Doubleview's market capitalization.

Closing of the private placement is subject to TSX Venture Exchange approval. The proceeds from the private placement will be used to pay outstanding indebtedness and general working capital purposes.

Doubleview is also pleased to announce that the previously arranged debenture that was the subject of an alleged default, as reported in an Aug. 16, 2017, news release, has now been retired in full and the company is no longer subject to any threatened action.

Hat project exploration update

The company has compiled all available data from the Hoey and West Gossan mineral zones. Each zone is located more than one kilometre from the Lisle zone that has been the focus of much of the company's work. Neither zone has been investigated by geophysical surveys or drilling but both have strong surface mineralization with copper, gold, silver and cobalt values. The areas will be given high priority for exploration when work at the Lisle zone is resumed. The information will be added to the Doubleview website on Oct. 4, 2017.

About Doubleview Capital Corp.

Doubleview Capital, a mineral resource exploration and development company, is based in Vancouver, B.C., Canada, and is publicly traded on the TSX Venture Exchange. Doubleview identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia, Canada. Doubleview increases shareholder value through acquisition and exploration of quality gold, copper and silver properties and the application of advanced state-of-the-art exploration methods. Doubleview's portfolio of strategic properties provides diversification and mitigates investment risk.

We seek Safe Harbor.

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