Business
Dolly Varden Announces $3.5MM Financing and Strategic Investment by Eric Sprott
Dolly Varden Announces $3.5MM Financing and Strategic Investment by Eric Sprott Ca...
About this update from Dolly Varden Silver Corporation
[{"type":"text","content":"\n\n\n\nDolly Varden Announces $3.5MM Financing and Strategic Investment by Eric Sprott\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, Aug. 26, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n VANCOUVER, Aug. 26, 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 $3.5 million from the sale of up to 5,714,286 common shares that qualify as \"flow-through shares\" (\"Flow-Through Shares\"), as defined under the Income Tax Act (Canada), at a price of $0.35 per share and up to 5,000,000 common shares (\"Common Shares\") at a price of $0.30 per share. The Offering is expected to be fully subscribed and includes a strategic investment by Mr. Eric Sprott. \nGary Cope President and CEO stated \"We are very pleased to welcome Mr. Eric Sprott as a strategic investor in Dolly Varden. The significant investment from Mr. Sprott is a strong endorsement of our high grade silver assets in the Golden Triangle, British Columbia. This financing puts us in a very strong financial position and allows the Company to continue expanding its silver mineral  resource with new high grade silver discoveries on the property.\" \nThe Company has agreed to pay a finder's fee in respect of those purchasers under the Offering introduced to the Company by Mackie Research Capital Corporation (the \"Finder\"). The Finder will receive (the \"Finder's Fee\") common shares in the Company equal to 5% 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, the Common 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. ...