Doubleview Gold closes $5.8 million first tranche of private placement

Doubleview Gold Corp. (TSXV: DBG) (OTCQB: DBLVF) (FSE: 1D4) closed the first tranche of its non-brokered private placement, raising $5,769,999.90 through the issuance of 8,242,857 units at $0.70 per unit, according to a company statement.

The Vancouver-based mineral exploration company increased its non-flow-through offering from $5 million to $7.25 million due to shareholder response, while reducing its flow-through share offering from $5 million to $1.5 million.

Each unit consists of one common share and one warrant. The warrants allow holders to purchase additional shares at $1.00 for 24 months from the closing date, subject to accelerated expiry if the company's 10-day volume-weighted average share price reaches $1.25 or more for 10 consecutive trading days on the TSX Venture Exchange.

The company plans to use proceeds to fund exploration programs on its British Columbia projects, particularly the Hat polymetallic project in northwestern BC, and for general working capital. Doubleview paid $350,000 in cash and issued 500,000 non-transferable finder warrants to Ventum Financial Corp. in connection with the closing.

All securities issued are subject to a four-month-and-one-day hold period expiring March 7, 2026. The private placement requires TSX Venture Exchange approval, and the company expects to close the remaining portions in the coming weeks.

The Hat deposit contains indicated resources of 150 million tonnes and inferred resources of 477 million tonnes, with copper equivalent grades of 0.408% and 0.344% respectively, based on a 0.2% copper equivalent cut-off.

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