Doubleview Gold Corp (TSX-V:DBG, OTCQB:DBLVF) said it has closed the first tranche of its non-brokered flow-through and non-flow-through private placement for gross proceeds of $517,991.20.
In total, the company intends to raise up to $5 million through the sale of its flow-through and non-flow-through units. The proceeds of the financing will be used for exploration work on the company's projects, particularly for the Hat project and general administration.
Under the first tranche, Doubleview has issued a total of 1,643,304 flow-through (FT) units at a price of 30 cents per FT unit for total gross proceeds of $492,991.20. Each FT unit consists of one common share issued as a flow-through common share and one non-transferable share purchase warrant, with each whole warrant exercisable at 33 cents per share for a period of two years from the date of issue.
The company also issued 100,000 non-flow-through (NFT) units at a price of 25 cents per unit for total proceeds of $25,000. Each NFT unit consists of one common share and one non-transferable share purchase warrant, with each warrant exercisable at 31 cents per share for a period of two years from the date of issue.
READ: Doubleview Gold puts logistical pieces in place ahead of a 2022 exploration program at its Hat property in British Columbia
The securities issued under the first tranche will be subject to restrictions on resale for four months and a day, under applicable Canadian securities laws and the rules of the TSX Venture Exchange.
Doubleview Gold, based in Vancouver, British Columbia, 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 gold, copper and silver properties and the application of advanced state-of-the-art exploration methods. Doubleview's portfolio of strategic properties provides diversification and mitigates investment risk.
Contact the author at jon.hopkins@proactiveinvestors.com