Doubleview Capital Corp. (TSX-V: DBV) Closed $285,000 First Tranche of Non-brokered Private Placement Financing
17 Settembre 2013 - 3:01PM
Access Wire
Doubleview Capital Corp. ("Doubleview") (TSX-V:
DBV) is pleased to announce that it has completed the
first tranche of its previously announced non-brokered private
placement by issuing a total of 4,750,000 units at a price of $0.06
per unit (each a "Unit") for gross proceeds of $285,000.
Each Unit is comprised of one common share of Doubleview and
one-half of one common share purchase warrant ("Warrant"), with
each whole Warrant entitling the holder to purchase one additional
common share at $0.15 per share for a period of two years from the
date of issuance.
In connection with the proceeds raised under the first tranche,
Doubleview paid a finder a cash commission of $7,992 and issued the
finder 133,200 non-transferable warrants. Each finder's warrant is
exercisable on the same terms as the warrants described above.
Mr. Shirvani, Chief Executive Officer, President and a director
of Doubleview, subscribed for 1,415,001 Units under the private
placement financing. As a result, the issuance of Units to Mr.
Shirvani 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% of the fair market value of Doubleview's market
capitalization.
The securities issued under the financing will be subject to a
hold period expiring on January 17, 2014 pursuant to applicable
Canadian securities laws and the rules of the TSX Venture
Exchange.
The proceeds from the financing will be used for additional
exploration expenditures including geophysical surveys and diamond
drilling on Doubleview's fully permitted Hat Copper-Gold alkalic
porphyry project in northwestern British Columbia and for general
working capital purposes. A field crew has been mobilized to the
property to conduct an induced polarization geophysical survey
comprising approximately 40 line-kilometres. The Company plans to
commence a Phase II program of diamond drilling immediately
following completion of the geophysical survey.
The Phase I 2013 exploration and diamond drilling program
included six holes with total length1380 metres. The drill program
was directed to targets that were identified by historic soil
geochemical and induced polarization geophysical surveys and
reconfirmed by the Company's 2011 MMI geochemical soil survey.
Property location and neighboring properties may be viewed at:
http://www.doubleview.ca/projects-2/hat-copper-gold/hat-and-properties-in-the-area/
Erik A. Ostensoe, P. Geo, a consulting geologist, is
Doubleview's Qualified Person as defined by National Instrument
43-101-Standards of Disclosure for Mineral Projects, with respect
to the Hat Project and has reviewed and approved the technical
disclosure of this news release. Mr. Ostensoe is not independent of
Doubleview as he is a shareholder and is a co-optionor of the Hat
Project.
About Doubleview Capital Corp.
Doubleview Capital Corp., a mineral resource exploration and
development company, is based in Vancouver, British Columbia,
Canada and is publicly traded on the TSX-Venture Exchange
[TSX.V:DBV]. 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.
On behalf of the Board of Directors,
Farshad Shirvani, President & Chief Executive Officer
For further information please contact:
Doubleview Capital Corp.
Suite 310, 675 West Hastings Street
Vancouver, BC V6B 1N2
Farshad Shirvani
President & CEO
T: (604) 678-9587
E: corporate@doubleview.ca
Forward-Looking Statements
Information set forth in this news release contains
forward-looking statements that are based on assumptions as of the
date of this news release. These statements reflect management's
current estimates, beliefs, intentions and expectations. They are
not guarantees of future performance. Doubleview cautions that all
forward looking statements are inherently uncertain and that actual
performance may be affected by a number of material factors, many
of which are beyond Doubleview's control. Such factors include,
among other things: risks and uncertainties relating to
Doubleview's ability to implement its drill program on the Hat
Property, limited operating history and the need to comply with
environmental and governmental regulations. Accordingly, actual and
future events, conditions and results may differ materially from
the estimates, beliefs, intentions and expectations expressed or
implied in the forward looking information. Except as required
under applicable securities legislation, Doubleview undertakes no
obligation to publicly update or revise forward-looking
information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
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