Vancouver, BC / ACCESSWIRE / August 8, 2014 / Doubleview Capital Corp. ("Doubleview") (TSX-V: DBV) is pleased to announce it has closed the first tranche of its non-brokered private placement financing announced on August 7, 2014. Doubleview issued a total of 2,060,000 flow-through units ("FT Units") at a price of $0.16 per FT Unit for gross proceeds of $329,600 and 340,000 non-flow-through units (the "NFT Units") at a price of $0.16 per NFT Unit for gross proceeds of $54,400.
Each NFT Unit is comprised of one common share of Doubleview and one common share purchase warrant (a "NFT Warrant"), with each NFT Warrant entitling the holder to purchase one additional common share at $0.25 per share until August 8, 2016. Each FT Unit is comprised of one flow-through common share of Doubleview and one-half of one common share purchase warrant (each whole warrant a "FT Warrant"), with each whole FT Warrant entitling the holder to purchase one additional common share at $0.25 per share until August 8, 2016. Doubleview will have the right to accelerate the expiry date of the NFT Warrants and FT Warrants if, at any time, the average closing price of Doubleview's common shares is equal to, or greater than, $0.30 for 10 consecutive trading days. In the event of acceleration, the expiry date will be accelerated to a date that is 30 days after Doubleview issues a news release announcing that it has elected to exercise this acceleration right.
In connection with the proceeds raised under the first tranche, Doubleview paid a finder a cash commission of $30,400 and issued the finder 190,000 non-transferable warrants. Each finder's warrant is exercisable on the same terms as the warrants described above.
The securities issued under the financing will be subject to a hold period expiring on December 9, 2014 pursuant to applicable Canadian securities laws and the rules of the TSX Venture Exchange.
The proceeds from the flow-through offering will be used to carry out Doubleview's 2014 fall drill program on its highly prospective Hat Copper Gold Porphyry project in northwestern British Columbia, and the net proceeds of the non-flow-through offering will be used for general working capital purposes.
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 Doubleview's ability to complete the balance of the proposed private placement financing, 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.
SOURCE: Doubleview Capital Corp.