Doubleview Gold Corp (TSX-V:DBG, OTCQB:DBLVF) said it has raised over $1.8 million so far in its latest financing round for exploration at its Hat project.
The company recently closed the second tranche of its non-brokered private placement, raising gross proceeds of $416,300.
To date, the company has raised a total of $1,833,270 in flow-through and non-flow-through funds.
In the second tranche, Doubleview issued 90,182 flow-through units priced at $0.55 each, generating $49,600 in gross proceeds.
Each flow-through unit comprises one common share and one-half of a common share purchase warrant, exercisable at $0.65 for a 24-month period. The warrants are subject to early termination if the company’s shares trade at a volume-weighted average price of $0.70 for five consecutive days during this period.
Additionally, Doubleview issued 965,000 non-flow-through units at $0.38 per unit, for gross proceeds of $366,700. Each non-flow-through unit consists of one common share and one common share purchase warrant, exercisable at $0.48 for six months, and then at $0.55 for an additional 18 months. The warrants are also subject to an acceleration clause if certain share price targets are met between March and April 2025.
In total, Doubleview has issued 1,911,364 flow-through units and 2,057,947 non-flow-through units under the private placement. The company aims to raise up to $4 million through this offering.
Proceeds from the private placement will be used to fund exploration at Doubleview’s polymetallic Hat Project in northwestern British Columbia, which is currently undergoing drilling, as well as for general working capital.