Vancouver, British Columbia--(Newsfile Corp. - July 5, 2022) - Doubleview Gold Corp. (TSXV: DBG) (OTCQB: DBLVF) (FSE: 1D4) ("Doubleview") is pleased to announce it has closed its second tranche of its non-brokered flow-through and non-flow-through private placement for gross proceeds of $2,009,250.00. Doubleview is also pleased to announce that New York based Hedge Funds and family offices account for nearly $2.0 million of the proceeds from the Second tranche. Combined with the first tranche as announced on June 21, the Company has raised a total of $2,527,241.20 ($558,991.20 for Flow through and $1,968,250.00 for Non flow through). The company has not paid any commission or finder's fee in connection with this financing.
Under the second tranche, Doubleview will issue a total of 220,000 flow-through units (the "FT Units") at a price of $0.30 per FT unit for total gross proceeds of $66,000.00. Each FT Unit consists of one common share issued as a flow-through common share and one share purchase warrant (a "Warrant"), with each Warrant exercisable for one common share at $0.33 per share for a period of two years from the date of issue.
As part of the second tranche close the Company will also issue 7,773,000 non-flow-through units (the "NFT Units") at a price of $0.25 per NFT Unit for total proceeds of $1,943,250. Each NFT Unit consists of one common share and one share purchase warrant (a "Warrant"), each Warrant exercisable for an additional common share at $0.31 per share for a period of two years from the date of issue.
The aggregate gross proceeds of $558,991.20 from the sale of the FT Offering will be used for contribution to and maintenance of the Company's exploration work on its projects, particularly for the Hat Project. While the aggregate gross proceeds from the sale of the NFT Offering will be used for legal, accounting and General Administrative costs.
Pursuant to the policies of the TSX Venture (the "Exchange"), all shares issued in this tranche, and any shares issued pursuant to the exercise of the warrants, are subject to a hold period expiring November 6, 2022.
The closing of the Offering is subject to receipt of all necessary regulatory approvals including the TSX Venture Exchange.
The Company may continuing raising funds under this non brokered private placement.
About Doubleview Gold Corp
Doubleview Gold Corp., a mineral resource exploration and development company, is based in Vancouver, British Columbia, Canada, and is publicly traded on the TSX-Venture Exchange (TSXV: DBG), (OTCQB: DBLVF), (WKN: A1W038), (FSE: 1D4). Doubleview identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia. 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. The Company'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 Gold Corp
Vancouver, BC 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 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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