Doubleview Capital Corp. (TSX-V: DBV) Announces Increase to Private Placement
08 Octubre 2013 - 7:34PM
Access Wire
Doubleview Capital Corp.
("Doubleview") (TSX-V: DBV) announces
that it has increased its previously announced non-brokered private
placement financing (see news release dated September 5, 2013) from
8,333,333 units ("Units") to 10,000,000 Units at a price of $0.06
per Unit for gross proceeds of $600,000. Each Unit is comprised of
one common share of Doubleview and one-half of one common share
purchase warrant ("Warrant"), with each whole Warrant entitling the
holder to purchase one additional common share at $0.15 per share
for a period of two years from the date of
issuance.
As set out in
Doubleview's news release dated September 17, 2013, Doubleview
closed the first tranche of the private placement
by issuing a total of 4,750,000 units at a price of
$0.06 per Unit for gross proceeds of $285,000.
Prior to
closing the final tranche of the private placement, Mr. Shirvani,
Chief Executive Officer, President and a director of Doubleview,
plans to sell up to 2,000,000 common shares of his personal
holdings through the facilities of the TSX Venture Exchange. The
net proceeds from the sale of these shares will be used to purchase
Units under the private placement. As a result, any
issuance of Units to Mr. Shirvani will be
considered 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 financing will be used by Doubleview to implement its fall
2013 drill program on the Hat Property, located in northwestern
British Columbia, and for general working capital
purposes.
About Doubleview Capital
Corp.
Doubleview Capital
Corp. is a Canadian resource exploration and development company
located in Vancouver British Columbia. Doubleview is a publicly
trading company on TSX-Venture Exchange under TSX.V: DBV. Doubleview
identifies, acquires and finances quality precious and base metal
exploration mining projects in North America and more specifically
British Columbia, Canada. Doubleview increases shareholder value
through strategic and quality Gold, Copper, and Silver projects
acquisitions, and through advanced and state of the art exploration
methods in the industry.
Doubleview endeavours
to increase the odds of exploration success and to mitigate
investment risk through diversification. The recent, strategic
property acquisitions have strengthened the Doubleview's property
portfolio of Gold, Silver and Copper exploration
projects.
On behalf of the Board of
Directors,
Farshad Shirvani, President
& Chief Executive Officer
For further
information please contact:
Doubleview Capital
Corp.
Suite 310, 675 West Hastings
Street
Vancouver, BC V6B 1N2
Farshad Shirvani
President & CEO
T: (604) 678-9587
E: 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
ability to complete the proposed private
placement financing, implement its exploration program on the Hat
Property, 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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