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Dolly Varden Announces $7.5 Million Brokered Private Placement Financing, Led by Eric Sprott
Dolly Varden Announces $7.5 Million Brokered Private Placement Financing, Led by Eric Spro...
About this update from Dolly Varden Silver Corporation
[{"type":"text","content":"\n\n\n\nDolly Varden Announces $7.5 Million Brokered Private Placement Financing, Led 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, BC, July 27, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n VANCOUVER, BC, July 27, 2020 /CNW/ - Dolly Varden Silver Corporation (\"Dolly Varden\" or the \"Company\") (TSXV: DV) (OTC:DOLLF), is pleased to announce that it has entered into an agreement with Mackie Research Capital Corporation, as co-lead agent and sole bookrunner, along with Eventus Capital Corp. as co-lead agent (together, the \"Agents\") in connection with a best efforts, brokered private placement of units of the Company (the \"Units\") at a price of $0.71 per Unit (the \"Offering Price\") for gross proceeds of up to $7,500,000 (the \"Offering\"). Continuing with his support of Dolly Varden, Mr. Eric Sprott is expected to subscribe into the Offering to maintain his 19.9% interest. \n\n \n \n \n \n \n \n\n \nEach Unit will be comprised of one common share of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant shall be exercisable to acquire one Common Share (a \"Warrant Share\") at a price of $1.10 per Warrant Share for a period of 24 months from the closing of the Offering. Provided that if, at any time prior to the expiry date of the Warrants, the closing price of the Common Shares on the TSX Venture Exchange (the \"Exchange\"), or other principal exchange on which the Common Shares are listed, is greater than $1.75 for 10 consecutive trading days, the Company may, at the Company's discretion, and at any time going forward, within 15 days of the occurrence of such event, deliver a notice to the holders of Warrants accelerating the expiry date of the Warrants to the date that is 30 days following the date of such notice (the \"Accelerated Exercise Period\"). Any unexercised Warrants shall automatically expire at the end of the Accelerated Exer...