Doubleview Gold Corp (TSX-V:DBG, OTCQB:DBLVF) said it has closed the first tranche of its non-brokered flow-through private placement for gross proceeds of $1,344,999.60.
Under the first tranche, Doubleview will issue a total of 1,921,428 flow-through units (FT units) at a price of $0.70 each. Each FT unit consists of one common share issued as a flow-through common share and one-half of one common share purchase warrant, with each full warrant exercisable for one common share of the corporation for two years at a price of $0.80 per share for a period of six months from the date of issue and thereafter at a price of $1.20 per share for a period of 18 months.
The aggregate gross proceeds of the sale of the FT units will be used for contribution and maintenance of the company's exploration work on its projects, particularly for the Hat Project.
READ: Doubleview Gold updates on maiden resource estimate at Hat project in British Columbia
Under the policies of the TSX Venture, all shares issued in this private placement, and any shares issued under the exercise of the warrants, are subject to a hold period expiring April 16, 2023.
The closing of the offering is subject to receipt of all necessary regulatory approvals including the TSX Venture Exchange.
No finder's fee will be paid or finders warrants will be issued.
Doubleview Gold, based in Vancouver BC, identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia.
The company increases shareholder value through the acquisition and exploration of quality copper, gold and critical metals properties and the application of advanced state-of-the-art exploration methods. Its portfolio of strategic properties provides diversification and mitigates investment risk.
Contact the author at jon.hopkins@proactiveinvestors.com