Mr. Farshad Shirvani reports
DOUBLEVIEW CAPITAL CORP. (TSX-V: DBV) ANNOUNCES NON-BROKERED PRIVATE PLACEMENT FINANCING
Doubleview Capital Corp. has arranged a proposed non-brokered private placement for gross proceeds of up to $375,000. The offering will consist of non-flow-through (NFT) units at a price of five cents per NFT unit and flow-through (FT) units at a price of five cents per FT unit.
Each NFT unit comprises one common share of Doubleview and one common share purchase warrant, with each NFT warrant entitling the holder to purchase one additional non-flow-through common share at 10 cents per share for a period of two years from the date of the issue. Each FT unit comprises one flow-through common share of Doubleview and one common share purchase warrant, with each FT warrant entitling the holder to purchase one additional non-flow-through common share at 15 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 volume weighted average price of Doubleview's common shares is equal to, or greater than 20 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 cash finder's fee of up to 10 per cent of the total gross proceeds of the private placement and 10 per cent of warrants to registered brokers or pay a cash finder's fee to certain finders of up to 10 per cent of the total gross proceeds of the private placement.
All securities issued pursuant to the private placement will be subject to a four-month hold period from the date of issuance. Completion of the private placement is subject to TSX Venture Exchange approval.
The proceeds from the flow-through offering will be used to pay qualifying exploration expenditures on Doubleview's fully permitted Hat copper gold porphyry project in northwestern British Columbia, and the net proceeds of the non-flow-through offering will be used for general working capital purposes and may also be used to finance further exploration work on the Hat project.
We seek Safe Harbor.