Dolly Varden Silver Announces $30 Million Bought-Deal Financing

Executive Summary

• Dolly Varden Silver Corporation announced a combined equity financing of up to $30.0 M through a LIFE offering and a private placement.
• The offering includes 2.3 M common shares at $6.50, 750 k charity flow‑through (CFT) shares at $9.42, and 990 k regular flow‑through (FT) shares at $8.10.
• Net proceeds will fund working capital, general corporate purposes, and further exploration/drilling on the Kitsault Valley project.

Key Details

• Total Gross Proceeds: $30,034,000.
• Common Shares: 2,300,000 @ $6.50 per share = $14,950,000 (LIFE offering).
• Charity Flow‑Through Shares (CFT): 750,000 @ $9.42 per share = $7,065,000 (LIFE offering).
• Regular Flow‑Through Shares (FT): 990,000 @ $8.10 per share = $8,019,000 (private placement).
• Underwriters’ Option: Up to an additional 15 % of the total offered securities may be issued to cover over‑allotments, exercisable up to two business days before closing.
• Closing Date: Expected on or about October 23, 2025, subject to regulatory approvals (TSX Venture Exchange and NYSE American).
• Use of Proceeds:
• Common share proceeds – working capital and general corporate purposes.
• CFT & FT share proceeds – exploration, mineral resource expansion, drilling at the Kitsault Valley project; eligible Canadian Exploration Expenses and flow‑through mining expenditures to be renounced by Dec 31, 2025.
• Fees: Underwriters will receive a cash fee equal to 5.0 % of gross proceeds.
• Pro Rata Rights: Hecla Canada Ltd. and Fury Gold Mines Ltd. may purchase common shares at $6.50 each to maintain their equity interests; any exercised rights are additional to the offering.

Notable Quotes

(No direct quotes were provided in the release.)