Doubleview Capital Corp. Announces Commencing 2014 Exploration Drilling Program and Acceleration of Expiry Dates of 2012 Pri...
March 27 2014 - 9:28AM
Access Wire
VANCOUVER, BC / ACCESSWIRE / March 27, 2014
/ Doubleview Capital Corp. ("Doubleview") (TSX-V: DBV)
announces that its Diamond Drilling program will commence on March
30, 2014 at the Hat Property, located 95 km southwest of Dease Lake
in the Sheslay Camp of the Stikine Mining District of northwestern
B. C.
The exploration camp on the Hat Property is near completion and
necessary material and fuel have been placed on the property. The
drilling equipment has now moved to Golden Bear Mine Road staging
location to be placed on the first drill target. It is anticipated
that diamond drilling will commence on March 30, 2014.
Doubleview holds an option to acquire a 100% in the Hat
Property, subject to a 2% net smelter return royalty. The Hat
Property is an early-stage exploration property that is believed to
host an alkalic copper-gold porphyry deposit. Such deposits
customarily comprise irregular zones of disseminated mineralization
within alteration haloes close to magnetite, potassium and/or
sodium-rich, low silica, intrusions. In addition to historic work
by a major exploration company, Doubleview and the property vendors
have completed geological, geochemical and geophysical surveys and
have developed the exploration model that is being pursued.
Erik A. Ostensoe, P. Geo, a consulting geologist and
Doubleview's Qualified Person within the meaning of National
Instrument 43-101 - Standards of Disclosure for Mineral Projects
with respect to the Hat Property, has reviewed and approved the
technical disclosure of this news release. Mr. Ostensoe is not
independent of Doubleview as he is a shareholder and is a
co-optionor of the Hat Property.
Acceleration of Warrant Expiry Date
Doubleview also announces that it has elected to accelerate the
expiry date of the warrants (the "Warrants")
issued on December 31, 2012 in connection with its flow-through and
non-flow-through private placement unit offerings (the
"2012 Private Placement").
Pursuant to the terms of the 2012 Private Placement, if the
volume weighted average trading price of Doubleview's shares on the
TSXV is above $0.20 per share for five (5) consecutive trading
days, Doubleview is entitled to accelerate the expiry date of the
Warrants to a date thirty (30) calendar days from the date notice
of such acceleration is provided to holders of Warrants. Doubleview
has elected to provide notice of such acceleration to the holders
of Warrants.
This news release constitutes notice to Warrant holders of the
new expiry time. Any Warrants remaining unexercised
after the new expiry time will be cancelled.
Effective today, the Warrants issued to the purchasers pursuant
to the 2012 Private Placement are set to expire at 5:00 p.m.
(Vancouver time) on April 26, 2014.
Although it is unknown how many Warrants will be exercised, if
all of the Warrants are exercised, Doubleview will receive
additional proceeds of $554,450 and a total of 3,813,000 additional
common shares of Doubleview will be issued. If all finders'
warrants issued in connection with the 2012 Private Placement are
exercised, Doubleview will receive additional proceeds of $40,300
and a total of 403,000 additional common shares of Doubleview will
be issued.
How to Exercise Warrants
Warrant holders who wish to exercise their Warrants should
instruct their investment advisor and be prepared to provide
payment to their advisor firm equal to the exercise price for each
warrant exercised. Investors should consult with their investment
advisor to confirm the time required to complete this process and
other costs associated with the exercise, if any.
Warrant holders who hold a physical certificate wishing to
exercise Warrants need to provide Doubleview with a certified
cheque, bank draft or money order payable to Doubleview Capital
Corp., together with the Warrant certificate with the exercise
appended to the certificate duly completed.
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 310, 675 West Hastings Street
Vancouver, BC, V6B 1N2
Farshad Shirvani
President & CEO
T: (604) 678-9587
E: corporate@doubleview.ca
Forward-looking Information
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 results of
Doubleview's 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.
SOURCE: Doubleview Capital Corp.
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