VANCOUVER, BC / ACCESSWIRE / March 27, 2014 / Doubleview Capital Corp. ("Doubleview") (TSX-V: DBV) announces that its Diamond Drilling program will commence on March 30, 2014 at the Hat Property, located 95 km southwest of Dease Lake in the Sheslay Camp of the Stikine Mining District of northwestern B. C.
The exploration camp on the Hat Property is near completion and necessary material and fuel have been placed on the property. The drilling equipment has now moved to Golden Bear Mine Road staging location to be placed on the first drill target. It is anticipated that diamond drilling will commence on March 30, 2014.
Doubleview holds an option to acquire a 100% in the Hat Property, subject to a 2% net smelter return royalty. The Hat Property is an early-stage exploration property that is believed to host an alkalic copper-gold porphyry deposit. Such deposits customarily comprise irregular zones of disseminated mineralization within alteration haloes close to magnetite, potassium and/or sodium-rich, low silica, intrusions. In addition to historic work by a major exploration company, Doubleview and the property vendors have completed geological, geochemical and geophysical surveys and have developed the exploration model that is being pursued.
Erik A. Ostensoe, P. Geo, a consulting geologist and Doubleview's Qualified Person within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects with respect to the Hat Property, 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 Property.
Acceleration of Warrant Expiry Date
Doubleview also announces that it has elected to accelerate the expiry date of the warrants (the "Warrants") issued on December 31, 2012 in connection with its flow-through and non-flow-through private placement unit offerings (the "2012 Private Placement").
Pursuant to the terms of the 2012 Private Placement, if the volume weighted average trading price of Doubleview's shares on the TSXV is above $0.20 per share for five (5) consecutive trading days, Doubleview is entitled to accelerate the expiry date of the Warrants to a date thirty (30) calendar days from the date notice of such acceleration is provided to holders of Warrants. Doubleview has elected to provide notice of such acceleration to the holders of Warrants.
This news release constitutes notice to Warrant holders of the new expiry time. Any Warrants remaining unexercised after the new expiry time will be cancelled.
Effective today, the Warrants issued to the purchasers pursuant to the 2012 Private Placement are set to expire at 5:00 p.m. (Vancouver time) on April 26, 2014.
Although it is unknown how many Warrants will be exercised, if all of the Warrants are exercised, Doubleview will receive additional proceeds of $554,450 and a total of 3,813,000 additional common shares of Doubleview will be issued. If all finders' warrants issued in connection with the 2012 Private Placement are exercised, Doubleview will receive additional proceeds of $40,300 and a total of 403,000 additional common shares of Doubleview will be issued.
How to Exercise Warrants
Warrant holders who wish to exercise their Warrants should instruct their investment advisor and be prepared to provide payment to their advisor firm equal to the exercise price for each warrant exercised. Investors should consult with their investment advisor to confirm the time required to complete this process and other costs associated with the exercise, if any.
Warrant holders who hold a physical certificate wishing to exercise Warrants need to provide Doubleview with a certified cheque, bank draft or money order payable to Doubleview Capital Corp., together with the Warrant certificate with the exercise appended to the certificate duly completed.
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
President & CEO
T: (604) 678-9587
E: [email protected]
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 results of Doubleview's exploration 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.
SOURCE: Doubleview Capital Corp.