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Dolly Varden closes $7,000,000 flow through private placement
Dolly Varden closes $7,000,000 flow through private placement Canada NewsWire ...
About this update from Dolly Varden Silver Corporation
[{"type":"text","content":"\n \n \n \n Dolly Varden closes $7,000,000 flow through private placement\n \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 \n \n \n \n \n \n Canada NewsWire\n \n \n VANCOUVER, BC, Nov. 16, 2020\n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n VANCOUVER, BC\n \n ,\n \n Nov. 16, 2020\n \n /CNW/ - Dolly Varden Silver Corporation (TSXV: DV) (US OTC: DOLLF) (the \"Company\" or \"Dolly Varden\") is pleased to announce that it has closed its non-brokered private placement offering (the \"Offering\") to raise aggregate gross proceeds of approximately\n \n $7,000,000\n \n , previously announced on\n \n October 22\n \n , 2020.  The Offering consisted of the sale of 7,070,000 common shares of Dolly Varden that qualify as \"flow-through shares\" as defined under the Income Tax Act (\n \n Canada\n \n ) at a price of\n \n $1.00\n \n per share (the \"Offered Shares\").\n \n \n Pursuant to the ancillary rights agreement between Hecla Canada Ltd. (\"Hecla\") and the Company, dated\n \n September 4, 2012\n \n ,\n \n Hecla\n \n exercised its anti-dilution right in respect of the Offerings and acquired 799,848 common shares of Dolly Varden (\"Common Shares\") at a price of\n \n $0.89\n \n per share.  The securities issued to\n \n Hecla\n \n were in addition to those issued as part of the Offering.\n \n \n The Company will pay aggregate cash finder's fees of\n \n $408,600\n \n in connection with subscriptions under the Offering from subscribers introduced to the Company by Eventus Capital Corp., Mackie Research Capital Corporation, Industrial Alliance Securities Inc. and Accilent Capital Management Inc.\n \n \n The net proceeds of the Offering is intended to be used for further exploration, mineral resource expansion and drilling, as well as for working capital as permitted.\n \n \n The shares issued pursuant to the Offering are subject to a statutory hold period which expires on\n \n March 14\n \n , 2021.\n \n \n The securities described herein have not been, and will not be, registered ...