Doubleview Gold Corp (TSX-V:DBG, OTCQB:DBLVF) said it has received final TSX approval for its non-brokered flow-through and non-flow-through private placement of total gross proceeds of $3,068,241.20, with $969,991.20 raised from flow-through (FT) units and $2,098,250 from non-flow-through (NFT) units.
The aggregate gross proceeds of the FT units will be used for contribution and maintenance of the company's exploration work on its projects, particularly for the Hat Project. The aggregate gross proceeds of the NFT units will be used for the company's exploration work on its projects, particularly for the Hat Project and for general administrative costs.
In the third tranche of the financing, Doubleview issued a total of 1,370,000 FT units at a price of $0.30 each for total gross proceeds of $411,000. Each FT unit consists of one common share issued as a flow-through common share and one share purchase warrant, with each warrant exercisable for one common share at $0.33 per share for a period of two years from the date of issue.
READ: Doubleview Gold closes third and final tranche of its non-brokered private placement for gross proceeds of $541,000
The company also issued 520,000 NFT units in the third tranche at a price of $0.25 each for total proceeds of $130,000. Each NFT unit consists of one common share and one share purchase warrant, with each warrant exercisable for an additional common share at $0.31 per share for a period of two years from the date of issue.
Under the policies of the TSX Venture Exchange, all shares issued in the financing, and any shares issued under the exercise of the warrants, are subject to a hold period of four months and a day from the date of issue.
In the third tranche, the company said a total finder's fee of $28,770 will be paid and 95,900 finders warrants at a price of $0.33 were issued.
Doubleview Gold, based in Vancouver, identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia.
The company increases shareholder value through the acquisition and exploration of quality gold, copper and silver properties and the application of advanced state-of-the-art exploration methods. Its portfolio of strategic properties provides diversification and mitigates investment risk.
Contact the author at jon.hopkins@proactiveinvestors.com