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Dolly Varden Announces $2.75M Flow Through Share Offering
Dolly Varden Announces $2.75M Flow Through Share Offering Canada NewsWire VANCOU...
About this update from Dolly Varden Silver Corporation
[{"type":"text","content":"\n\n\n\nDolly Varden Announces $2.75M Flow Through Share Offering\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, June 4, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n VANCOUVER, June 4, 2019 /CNW/ - Dolly Varden Silver Corporation (TSX.V: DV | U.S.: DOLLF) (the \"Company\" or \"Dolly Varden\") is pleased to announce that the Company intends to undertake a private placement financing (the \"Offering\") to raise gross proceeds of up to $2.75 million from the sale of up to 11,000,000 common shares that qualify as \"flow-through shares\" (\"Flow-Through Shares\"), as defined under the Income Tax Act (Canada), at a price of $0.25 per flow through share. \nThe Company has agreed to pay a finder's fee in respect of those purchasers under the Offering introduced to the Company by Eventus Capital Corp. (the \"Finder\"). The Finder will receive common shares in the Company equal to 6% of the gross proceeds received from purchasers under the Offering who were introduced to the Company by the Finder.\nThe issuance of the Flow-Through Shares, and payment of the Finder's fee, are subject to the approval of the TSX Venture Exchange (\"TSXV\"), receipt of any other required regulatory approvals and other customary closing conditions. Closing of the Offering is anticipated to occur on or about June 18th, 2019. Securities issued under the Offering will be subject to a four-month hold period.\nThe net proceeds of the Offering will be used for further exploration and mineral resource expansion and drilling of the Dolly Varden silver property in northwestern British Columbia, Canada. The 2019 exploration program will include diamond drilling and extensive soils sampling. \nPursuant to the ancillary rights agreement between Hecla Canada Ltd. (\"Hecla\") and the Company dated September 4, 2012 (the \"ARA\"), Hecla will be entitled to acquire common shares to maintain its pro-rata equity interest in the Company. If Hecla exercises its pro-rata r...