Doubleview Gold Corp (TSX-V:DBG, OTCQB:DBLVF) announced a private placement to raise up to $4 million for exploration at its Hat polymetallic project in British Columbia.
The revised flow-through units (FT Units) are priced at $0.55 each and include one common share and half a warrant. Each full warrant allows for the purchase of one common share at $0.65 for 24 months, with early termination if the underlying shares trade at a volume weighted average price of $0.70 for five consecutive days within the 24-month period.
The non-flow-through units are priced at $0.38 each and consist of one common share and one warrant. Each warrant permits the purchase of one common share at $0.48 for six months, with an increased exercise price of $0.55 for an additional 18 months.
These warrants also face early termination if the underlying shares reach a volume weighted average price of $0.65 for five consecutive days within the 24-month period.
Funds raised will be allocated to exploration and development work on Doubleview’s BC projects, notably the polymetallic Hat Project in northwestern BC. This includes drilling, geological advisory, analytical services, and general working capital.