Business
Dolly Varden Announces Upsize of its Previously Announced Private Placement Financing to $3.0M
Dolly Varden Announces Upsize of its Previously Announced Private Placement Financing to $...
About this update from Dolly Varden Silver Corporation
[{"type":"text","content":"\n\n\n\nDolly Varden Announces Upsize of its Previously Announced Private Placement Financing to $3.0M\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 5, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ \n VANCOUVER, June 5, 2019 /CNW/ - Dolly Varden Silver Corporation (TSX.V: DV | U.S.: DOLLF) (the \"Company\" or \"Dolly Varden\") is pleased to announce that due to strong investor demand it has increased the previously announced non-brokered private placement financing (the \"Offering\") to raise gross proceeds of up to $3.0 million from the sale of up to 12,000,000 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 will pay a finder's fee in respect of those purchasers under the Offering introduced to the Company by Eventus Capital Corp., Sprott Capital Partners LP, and Industrial Alliance Securities Inc. (the \"Finders\"). The Finders will receive either common shares in the Company or cash equal to 6% of the gross proceeds received from purchasers under the Offering who were introduced to the Company by the applicable Finders.\nThe issuance of the Flow-Through Shares, and payment of the Finders' fees, 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 ...