Vancouver, British Columbia--(Newsfile Corp. - October 1, 2024) - Doubleview Gold Corp. (TSXV: DBG) (OTCQB: DBLVF) (FSE: 1D4) (the "Company or "Doubleview") is pleased to announce that it has been granted an extension to complete its previously announced (September 10 and 11, 2024) non-brokered private placement for total gross proceeds of up to $4,000,000 (the "Private Placement"). The Company is offering flow-through and non-flow-through Units.
Each flow-through unit (the "FT Unit") consists of one common share of the Company (a "FT Share") and one half of one common share purchase warrant (each, a "Warrant") at a price of $0.55 per FT Unit. Each full Warrant entitles the holder thereof to purchase one common share of the Company (a "Warrant Share") (on a non-"flow-through" basis) at an exercise price of $0.65 per Warrant Share for a period of 24 months following the closing date. The Warrants are subject to early termination if the underlying shares trade at a volume weighted average price equal to or greater than $0.70 for 5 consecutive days in the 24 month period from the date of issuance.
Each non-flow-through unit (the "NFT Unit") consists of one common share of the Company (a "NFT Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to purchase one common share of the Company (a "Warrant Share") at an exercise price of $0.48 per Warrant Share for a period of 6 months following the closing date and thereafter at an exercise price of $0.55 per Warrant Share for a period of 18 months. The Warrants are also subject to an acceleration period.
The Company closed the first tranche of the Private Placement consisting of 821,182 flow-through units and 1,092,947 non-flow-through units in connection with the Private Placement for gross proceeds of $ 1,416,970.
The net proceeds from the Private Placement will be used for contributions and maintenance of the Company's exploration work on its BC projects, particularly for the polymetallic Hat Project, located in northwestern BC, as well as general corporate and working capital purposes. The Common Shares and Warrants issued pursuant to the Private Placement will be subject to a four month hold period required under applicable securities laws. The Private Placement is subject to acceptance by the TSX Venture Exchange.
About Doubleview Gold Corp
A mineral resource exploration and development company is headquartered in Vancouver, British Columbia, Canada. It is publicly traded on the TSX-Venture Exchange (TSXV: DBG), (OTCQB: DBLVF), (GER: A1W038), and (FSE: 1D4). Doubleview focuses on identifying, acquiring, and financing precious and base metal exploration projects across North America, with a strong emphasis on British Columbia. The company enhances shareholder value through the acquisition and exploration of high-quality gold, copper, cobalt, scandium, and silver projects-collectively critical minerals-utilizing cutting-edge exploration techniques.
Doubleview's success is deeply rooted in the unwavering support of its long-term shareholders, supporters, and institutional investors. Their ongoing commitment has been instrumental in advancing the company's strategic initiatives. Doubleview looks forward to further collaborative growth and development and continues to welcome active participation from its valued stakeholders as the company expands its portfolio and strengthens its position in the critical minerals sector.
About the Hat Polymetallic Deposit
The Hat Deposit, located in northwestern British Columbia, is a polymetallic porphyry project with major resources of copper, gold, cobalt, and the potential for scandium. As one of the region's significant sources of critical minerals, the Hat deposit has undergone targeted exploration and development. The 0.2% CuEq cut-off resource estimate, as of the recently completed Mineral Resource Estimate and the Company's July 25, 2024 news release, is summarized below:
|
|
|
Average Grade |
Metal Content |
| Open Pit Model Hat |
Resource Category |
Tonnage |
CuEq |
Cu |
Co |
Au |
Ag |
CuEq |
Cu |
Co |
Au |
Ag |
| Mt |
% |
% |
% |
g/t |
g/t |
million lb |
million lb |
million lb |
thousand oz |
thousand oz |
| In Pit |
Indicated |
150 |
0.408 |
0.221 |
0.008 |
0.19 |
0.42 |
1,353 |
733 |
28 |
929 |
2,045 |
| Inferred |
477 |
0.344 |
0.185 |
0.009 |
0.15 |
0.49 |
3,619 |
1,945 |
91 |
2,328 |
7,575 |
Scandium potential for the Hat Deposit is estimated to be 300 to 500 million tonnes at an average grade of 40 ppm (0.004%) Sc2O3.
For further details, please refer to the Company's July 25, 2024 news release.
On behalf of the Board of Directors,
Farshad Shirvani, President & Chief Executive Officer
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.
Certain of the statements made and information contained herein may constitute "forward-looking information." In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225328
