Doubleview Gold Corp Announces Closing of Final Tranche of Private Placement for Total of $1,873,100

Rhea-AI Summary

Doubleview Gold Corp (TSXV: DBG) (OTCQB: DBLVF) has closed the final tranche of its non-brokered Private Placement, raising $39,830 in non-flow-through funds. The total gross proceeds reached $1,873,100, comprising $1,051,250 in flow-through funds and $821,850 in non-flow-through funds. The company will issue 104,816 units at $0.38 per unit, each including one common share and one purchase warrant. Additionally, Doubleview announced a new non-brokered private placement of flow-through shares at $0.48 per share, aiming to raise up to $4,000,000. Proceeds will fund exploration work, particularly at the Hat Polymetallic Deposit in northwestern BC.

Positive

• Successfully raised $1.87M through private placement
• New financing initiative targeting additional $4M through flow-through shares
• Ongoing drilling activities at Hat Polymetallic Deposit

Negative

• Dilutive effect of share issuance on existing shareholders

Vancouver, British Columbia--(Newsfile Corp. - November 6, 2024) - Doubleview Gold Corp. (TSXV: DBG) (OTCQB: DBLVF) (FSE: 1D4) (the "Company or "Doubleview") is pleased to announce that it is closing its final tranche of its non-brokered Private Placement, as originally announced on September 10 and 11, 2024, of non-flow-through funds for gross proceeds of $39,830. To date the Company has raised total gross proceeds of $1,873,100 (total flow-through funds of $1,051,250 and total non-flow-through funds of $821,850).

Under the final tranche, Doubleview will issue a total of 104,816 non-flow-through units (the "Units") at a price of $0.38 per Unit for gross proceeds of $39,830. Each Unit shall consist of one common share of the Company (a "Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to purchase one common share of the Company (a "Warrant Share") at an exercise price of $0.48 per Warrant Share for a period of 6 months following the closing date and thereafter at an exercise price of $0.55 per Warrant Share for a period of 18 months. The Warrants are subject to an acceleration period (the "Warrant Acceleration Period") as described in the announcement from October 29, 2024.

No additional flow-through units will be issued under the final tranche. Under this private placement, Doubleview is issuing a total of 1,911,364 flow-through units and 2,162,763 non-flow-through units.

No finder's fees or finder's warrants will be issued for this final tranche.

Proceeds are intended to be used for contributions and maintenance of the Company's exploration work on its BC projects, particularly for the Hat Polymetallic Deposit, located in northwestern BC, where drilling is still ongoing, geological advisory and analytical services as well as other exploration development work and general working capital purposes.

Pursuant to applicable Canadian securities laws and in accordance with the Exchange policies, all securities issued under this Private Placement will be subject to applicable resale restrictions under applicable securities laws and to the Exchange hold period of four months and one day from the date of issuance.

The closing of the Offering is subject to receipt of all necessary regulatory approvals including the TSX Venture Exchange.

New Financing

The Company wishes to announce a non-brokered private placement of flow-through shares of the Company (the "FT Shares") at a price of $0.48 for gross proceeds of up to $4,000,000. Each FT Share of the Company (a "FT Share") qualifies as a "flow-through share" within the meaning of subsection 66(15) the Income Tax Act (Canada) (the "ITA").

About Doubleview Gold Corp

A mineral resource exploration and development company is headquartered in Vancouver, British Columbia, Canada. It is publicly traded on the TSX-Venture Exchange (TSXV: DBG), (OTCQB: DBLVF), (WKN: LA1W038), and (FSE: 1D4). Doubleview focuses on identifying, acquiring, and financing precious and base metal exploration projects across North America, with a strong emphasis on British Columbia. The company enhances shareholder value through the acquisition and exploration of high-quality gold, copper, cobalt, scandium, and silver projects-collectively critical minerals-utilizing cutting-edge exploration techniques.

Doubleview's success is deeply rooted in the unwavering support of its long-term shareholders, supporters, and institutional investors. Their ongoing commitment has been instrumental in advancing the company's strategic initiatives. Doubleview looks forward to further collaborative growth and development, and continues to welcome active participation from its valued stakeholders as the company expands its portfolio and strengthens its position in the critical minerals sector.

About the Hat Polymetallic Deposit

The Hat Deposit, located in northwestern British Columbia, is a polymetallic porphyry project with major resources of copper, gold, cobalt, and the potential for scandium. As one of the region's significant sources of critical minerals, the Hat deposit has undergone targeted exploration and development. The 0.2% CuEq cut-off resource estimate, as of the recently completed Mineral Resource Estimate and the Company's July 25, 2024 news release, is summarized below:

		Tonnage	Average Grade					Metal Content
Open Pit Model Hat	Resource Category		CuEq	Cu	Co	Au	Ag	CuEq	Cu	Co	Au	Ag
		Mt	%	%	%	g/t	g/t	million lb	million lb	million lb	thousand oz	thousand oz
In Pit	Indicated	150	0.408	0.221	0.008	0.19	0.42	1,353	733	28	929	2,045
	Inferred	477	0.344	0.185	0.009	0.15	0.49	3,619	1,945	91	2,328	7,575

 

Scandium potential for the Hat Deposit is estimated to be 300 to 500 million tonnes at an average grade of 40 ppm (0.004%) Sc₂O₃.

For further details, please refer to the Company's July 25, 2024 news release.

On behalf of the Board of Directors,

Farshad Shirvani, President & Chief Executive Officer

For further information please contact:

Doubleview Gold Corp
Vancouver, BC Farshad Shirvani
President & CEO

T: (604) 678-9587
E: corporate@doubleview.ca

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Certain of the statements made and information contained herein may constitute "forward-looking information." In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229135

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229144

FAQ

How much did Doubleview Gold Corp (DBLVF) raise in their latest private placement?

Doubleview Gold Corp raised total gross proceeds of $1,873,100, consisting of $1,051,250 in flow-through funds and $821,850 in non-flow-through funds.

What is the price per unit for Doubleview Gold's (DBLVF) new flow-through shares offering?

The new flow-through shares are being offered at $0.48 per share, targeting gross proceeds of up to $4,000,000.

What are the warrant terms for Doubleview Gold's (DBLVF) latest private placement?

Each warrant allows purchase of one common share at $0.48 per share for 6 months, then at $0.55 per share for the following 18 months.