Doubleview Gold arranges $10-million private placement

Executive Summary

• Doubleview Gold Corp. announced a non-brokered private placement of up to $10 million in gross proceeds, consisting of flow-through shares and non-flow-through units.
• The proceeds are designated to finance the current exploration program, specifically targeting the Hat polymetallic project in British Columbia, as well as general working capital.
• The offering includes up to 5 million flow-through shares at $1.00 per share and up to 7,142,857 non-flow-through units at $0.70 per unit, with the latter including warrants exercisable at $1.00.

Key Details

• Total Gross Proceeds: Up to $10 million.
• Use of Proceeds: Financing current exploration program and general working capital; specifically for exploration work on the Hat project in northwestern British Columbia, including drilling, geological advisory, analytical services, and other Canadian exploration expenses qualifying as flow-through mining expenditures.
• Flow-Through Shares:
  • Quantity: Up to 5,000,000 shares.
  • Price: $1.00 per share.
  • Maximum Proceeds: Up to $5 million.
• Non-Flow-Through Units:
  • Quantity: Up to 7,142,857 units.
  • Price: $0.70 per unit.
  • Maximum Proceeds: Up to $5 million.
  • Composition: Each unit consists of one common share and one full warrant.
• Warrant Terms:
  • Exercise Price: $1.00 per share.
  • Term: 24 months from the date of issue.
  • Accelerated Expiry: At the option of the company if the 10-day volume-weighted average price (VWAP) on the TSX Venture Exchange is $1.25 or more for any 10 consecutive trading days.
• Resale Restrictions: Securities are subject to applicable securities laws and a hold period of four months and one day from the date of issuance.
• Finder’s Fees: Doubleview may pay finders' fees in cash and/or finder shares in accordance with TSX-V policies.
• Closing Conditions: Subject to receipt of all necessary regulatory approvals, including TSX-V.
• Project Context (Hat Deposit): The funds support the Hat polymetallic porphyry project, which has a resource estimate based on a 0.2% copper-equivalent cut-off. Scandium potential is estimated at 300-500 million tonnes at an average grade of 40 ppm (0.004%) Sc2O3.

Notable Quotes

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