Doubleview Closes Third Tranche of Financing

Rhea-AI Summary

Doubleview Gold Corp. has successfully closed its third tranche of a non-brokered private placement, raising a total of $2,736,079.10. The tranche includes 60,000 flow-through units priced at $0.33 per unit, generating $19,800, and 1,905,455 units at $0.22, totaling $419,000. Each unit includes a warrant exercisable at $0.40 for two years. Funds will support exploration efforts at the Hat Project and general administration.

Positive

• Raised a total of $2,736,079.10 through the third tranche of private placement.
• Funds will be used for exploration on the Hat Project, potentially increasing shareholder value.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / September 18, 2020 / Doubleview Gold Corp. ("Doubleview") (TSXV:DBG)(OTC PINK:DBLVF)(FRANKFURT:1D4) is pleased to announce it has closed its third and final tranche of its previously announced non-brokered flow-through and non-flow-through private placement for aggregate gross proceeds of $ 2,736,079.10.

Under the third tranche, Doubleview has issued a total of 60,000 flow-through units (the "FT Units") at a price of $0.33 per flow-through unit for total gross proceeds of $19,800. Each FT Unit consists of one common share issued as a flow-through common share and one half of one non-transferable share purchase warrant (a "Warrant"), with each whole Warrant exercisable at $0.40 per share for a period of two years from the date of issue.

The Company also issued 1,905,455 units (the "Units") at a price of $0.22 per Unit for total proceeds of $419,000 in the third tranche. Each Unit consists of one common share and one non-transferable share purchase warrant (a "Warrant"), with each Warrant exercisable at $0.40 per share for a period of two years from the date of issue.

In the third tranche total Finder's Fees of $24,464 will be paid and 108,800 Finders Warrants will be issued.

The proceeds of the financing will be used for exploration work on the Hat Project and general administration. In due time the company will provide an update on the progress of the ongoing drill program at the Hat gold rich copper porphyry project. For the latest assay results and information, please review the company's news release, dated July 03, 2020.

The securities issued under the third tranche will be subject to restrictions on resale for 4 months and a day, pursuant to applicable Canadian securities laws and the rules of the TSX Venture Exchange.

About Doubleview Gold Corp

Doubleview Gold Corp, a mineral resource exploration and development company, is based in Vancouver, British Columbia, Canada, and is publicly traded on the TSX Venture Exchange [TSX-V: DBG]. Doubleview identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia. Doubleview increases shareholder value through 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.

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

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Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Doubleview cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Doubleview's control. Such factors include, among other things: risks and uncertainties relating to Doubleview's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Doubleview undertakes no obligation to publicly update or revise forward-looking information.

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.

SOURCE: Doubleview Gold Corp.

View source version on accesswire.com:
https://www.accesswire.com/606837/Doubleview-Closes-Third-Tranche-of-Financing

FAQ

What was the total amount raised in Doubleview Gold Corp's third tranche of financing?

Doubleview Gold Corp raised a total of $2,736,079.10 in its third tranche of financing.

What is the price per flow-through unit in the latest financing of Doubleview Gold Corp?

The price per flow-through unit in the latest financing was $0.33.

What will the proceeds from the third tranche be used for?

The proceeds will be used for exploration work on the Hat Project and general administration.

What is the exercise price of the warrants issued in the third tranche?

The warrants issued in the third tranche are exercisable at $0.40 per share.

How many units were issued in the third tranche by Doubleview Gold Corp?

In the third tranche, Doubleview Gold Corp issued a total of 1,905,455 units.