Doubleview Gold Corp Closes Private Placement

Rhea-AI Summary

Doubleview Gold Corp (TSXV: DBG) (OTCQB: DBLVF) has completed a private placement raising $76,000 through the issuance of 200,000 Units at $0.38 per Unit. Each Unit includes one common share and one purchase warrant. The warrants are exercisable at $0.48 for 6 months, then at $0.55 for 18 months, with early termination provisions. The proceeds will fund exploration work on BC projects, particularly the polymetallic Hat Project, including drilling and analytical services. No finder's fees were paid, and securities are subject to a four-month hold period.

Positive

• Secured $76,000 in additional funding through private placement
• Funds allocated for exploration work on Hat Project and other BC projects

Negative

• Small financing amount of only $76,000 indicates capital raise
• Dilutive effect on existing shareholders through new share issuance

Vancouver, British Columbia--(Newsfile Corp. - November 28, 2024) - Doubleview Gold Corp. (TSXV: DBG) (OTCQB: DBLVF) (FSE: 1D4) (the "Company or "Doubleview") is pleased to announce that it closed its private placement for aggregate proceeds of $76,000 comprised of 200,000 Units.

Each Unit shall consist of one common share of the Company (a "Share") and one common share purchase warrant (each, a "Warrant") at a price of $0.38 per Unit. 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 early termination if the underlying shares trade at a volume weighted average price equal to or greater than $0.65 for 5 consecutive days in the 24 month period from the date of issuance.

The proceeds of the sale of the shares will be used for contribution and maintenance of the Company's exploration work on its BC projects, particularly for the polymetallic Hat Project, located in northwestern BC. This work includes drilling, geological advisory and analytical services as well as other development work and general working capital purposes.

In connection with this private placement, no finder's fees were paid, and no finder's warrants were issued.

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.

About Doubleview Gold Corp

Doubleview is a mineral resource exploration and development company that 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 Company's flagship 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, of the recently completed Mineral Resource Estimate, which was announced in the Company's July 25, 2024, news release, is summarized below:

			Average Grade					Metal Content
Open Pit Model Hat	Resource Category	Tonnage	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

 

The 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.

Qualified Person:

Erik Ostensoe, P. Geo., a consulting geologist, and Doubleview's Qualified Person with respect to the Hat Project as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed, and approved the written technical disclosure contained in the news release. He is not independent of Doubleview as he is a shareholder in the company.

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/231862

FAQ

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

Doubleview Gold Corp raised $76,000 through the issuance of 200,000 Units at $0.38 per Unit.

What are the warrant exercise terms for Doubleview Gold Corp's (DBLVF) November 2024 private placement?

The warrants are exercisable at $0.48 per share for the first 6 months, then at $0.55 per share for the following 18 months, with early termination if shares trade at $0.65 for 5 consecutive days.

How will Doubleview Gold Corp (DBLVF) use the proceeds from the private placement?

The proceeds will be used for exploration work on BC projects, particularly the Hat Project, including drilling, geological advisory and analytical services, and general working capital.