Doubleview Capital Corp. (TSX-V:DBV) Closes Fully Subscribed Private Placement Financing
October 10 2017 - 5:48PM
Doubleview Capital Corp. (“Doubleview”)
(TSX-V:DBV) (OTC PINK:DBLVF) (Frankfurt:1D4) is pleased to announce
that it has closed its fully subscribed non-brokered private
placement financing of 11,600,000 units (the “Units”) at a price of
$0.05 per Unit for gross proceeds of $580,000. Each Unit will
be comprised of one common share of Doubleview and one common share
purchase warrant (a “Warrant”), with each Warrant entitling the
holder to purchase one additional common share at $0.05 per share
for a period of five years from the date of issue.
The securities issued under the private
placement will be subject to restrictions on resale expiring on
February 11, 2018.
As insiders are subscribing under the private
placement financing, it is considered to be a related party
transaction subject to TSX Venture Exchange Policy 5.9 and
Multilateral Instrument 61-101. Doubleview is relying on exemptions
from the formal valuation and minority shareholder approval
requirements provided under sections 5.5(a) and 5.7(a) of
Multilateral Instrument 61-101 on the basis that participation in
the private placement by insiders will not exceed 25% of the fair
market value of Doubleview's market capitalization.
The proceeds from the private placement will be
used to pay outstanding indebtedness and general working capital
purposes.
About Doubleview Capital Corp.
Doubleview Capital 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:DBV]. Doubleview identifies, acquires and finances
precious and base metal exploration projects in North America,
particularly in British Columbia, Canada. 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 Capital Corp.Suite
880, 409 Granville StreetVancouver, BC V6C 1T2Farshad
ShirvaniPresident & CEOT: (604) 678-9587E:
corporate@doubleview.ca
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.
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