Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Doubleview Gold Corp Announces Oversubscribed Private Placement Closing

V.DBG

Vancouver, British Columbia--(Newsfile Corp. - December 23, 2024) - Doubleview Gold Corp. (TSXV: DBG) (OTCQB: DBLVF) (FSE: 1D4) (the "Company" or "Doubleview") is pleased to announce that has raised raised $1,499,999.60 in flow-through and $100,000.80 in non-flow-through funds by way of a non-brokered private placement for total gross proceeds of $1,600,000.40.

Under this private placement, 263,160 Non-Flow-Through Units will be issued. Each Non-Flow-Through Unit shall consist of one common share of the Company (a "Share") and one common share purchase warrant (each, a "Warrant") at a price of $0.38 per Unit. 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 subject to early termination if the underlying shares trade at a volume weighted average price equal to or greater than $0.65 for 5 consecutive days in the 24 month period from the date of issuance.

Additionally a total of 3,409,090 Flow-Through Shares (the "FT Share") will be issued at a price of $0.44. Each FT Share of the Company qualifies as a "flow-through share" within the meaning of subsection 66(15) the Income Tax Act (Canada) (the "ITA").

The proceeds of the sale of the shares will be used for contribution and maintenance of the Company's exploration work on its BC projects, particularly for the polymetallic Hat Project, located in northwestern BC. This work includes drilling, geological advisory and analytical services as well as other development work and general working capital purposes.

Pursuant to applicable Canadian securities laws and in accordance with the Exchange policies, all securities issued under this Private Placement will be subject to applicable resale restrictions under applicable securities laws and to the Exchange hold period.

The Company will pay a Finder's Fee of $37,500 in cash and issue 111,441 Finder's Shares at a volume weighted average price of $0.3365 in connection with the private placement.

The closing of the private placement is subject to receipt of all necessary regulatory approvals including 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), (WKN: LA1W038), 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.

Qualified Person:

Erik Ostensoe, P. Geo., a consulting geologist, and Doubleview's Qualified Person with respect to the Hat Project as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed, and approved the written technical disclosure contained in the news release. He is not independent of Doubleview as he is a shareholder in the company.

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

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/234970



Get the latest news and updates from Stockhouse on social media

Follow STOCKHOUSE Today