Doubleview Gold Corp Announces Closing of Private Placement for Total of $4,027,000

Rhea-AI Summary

Doubleview Gold Corp (TSXV: DBG) (OTCQB: DBLVF) announces the closing of a non-brokered private placement, raising $4,026,999.84 through the issuance of 8,389,583 flow-through shares at $0.48 per share. The proceeds will fund exploration work at the company's wholly owned BC projects: the polymetallic Hat Project and the Copper-Silver-Gold Red Spring Project in northwestern BC. The company will pay $100,000 in finder's fees and issue 256,935 finder's shares at $0.39. All securities will be subject to a four-month and one-day hold period.

Positive

• Successfully raised over $4 million in private placement
• Secured funding for exploration work on two mineral projects

Negative

• Share dilution through issuance of 8,389,583 new shares
• Additional dilution through 256,935 finder's shares

Vancouver, British Columbia--(Newsfile Corp. - November 14, 2024) - Doubleview Gold Corp. (TSXV: DBG) (OTCQB: DBLVF) (FSE: 1D4) (the "Company" or "Doubleview") is pleased to announce that it is closing its non-brokered Private Placement of flow-through funds for gross proceeds of $4,026,999.84, which is more than initially announced on November 06, 2024.

Doubleview will issue a total of 8,389,583 flow-through shares (the "FT Shares") at a price of $0.48 per FT Share for gross proceeds of $4,026,999.84.

Proceeds are intended to be used for contributions and maintenance of the Company's exploration work on its wholly owned BC projects, the polymetallic Hat Project and the Copper-Silver-Gold Red Spring Project, located in northwestern BC. This work includes drilling, geological advisory, analytical services as well as other exploration development work.

The Company will pay $100,000 in finder's fees and will issue 256,935 finder's shares at a price of $0.39.

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

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:

			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

 

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/229923

FAQ

How much did Doubleview Gold Corp (DBLVF) raise in their November 2024 private placement?

Doubleview Gold Corp raised $4,026,999.84 through a non-brokered private placement of flow-through shares.

What is the price per share for Doubleview Gold Corp's (DBLVF) November 2024 flow-through shares?

The flow-through shares were priced at $0.48 per share.

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

The proceeds will fund exploration work, including drilling, geological advisory, and analytical services at their Hat Project and Red Spring Project in northwestern BC.

What is the hold period for securities issued in Doubleview Gold's (DBLVF) private placement?

The securities have a hold period of four months and one day from the date of issuance.