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Dolly Varden Silver Announces Closing of Private Placement for Gross Proceeds of $13 Million led by Eric Sprott and Hecla Mining
Dolly Varden Silver Announces Closing of Private Placement for Gross Proceeds of $13 Mill...
About this update from Dolly Varden Silver Corporation
[{"type":"text","content":"\n \n \n \n Dolly Varden Silver Announces Closing of Private Placement for Gross Proceeds of $13 Million led by Eric Sprott and Hecla Mining\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\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 \n VANCOUVER, BC\n \n \n ,\n \n \n March 31, 2022\n \n \n /CNW/ - Dolly Varden Silver Corporation (TSXV: DV) (OTC: DOLLF) (the \"\n \n Company\n \n \" or \"\n \n \n Dolly Varden\n \n \n \") is pleased to announce that it has closed its previously announced best efforts brokered private placement (the \"\n \n Offering\n \n \") pursuant to which the Company has issued 11,274,400 common shares of the Company that qualify as \"flow-through shares\" as defined under the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) (the \"\n \n Offered Shares\n \n \") at a price of\n \n $1.02\n \n per share (\"\n \n Offered Price\n \n \"). This includes the full exercise of the Agents' (as defined below) over-allotment option (the \"\n \n Agents' Option\n \n \") to sell up to an additional 15% of the number of Offered Shares sold in the Offering at the Offering Price. The aggregate gross proceeds to the Company is approximately\n \n $13 million\n \n , which includes approximately\n \n $11.5 million\n \n from the Offering and\n \n $1.5 million\n \n from Hecla Canada Ltd.'s participation.\n \n \n \n Shawn Khunkhun\n \n , CEO & Director of\n \n Dolly Varden Silver\n \n remarked, \"By consolidating seven high-grade silver and gold deposits and historic mines with potential development synergies as well as excellent exploration upside, we are on track to be the next pre-development Company, located within an accessible and stable region of B.C.'s prolific Golden Triangle. With\n \n $26 million\n \n in the treasury, we are grateful to existing and new strategic shareholders, including Hecla Mining and\n \n Eric Sprott\n \n that have supported\n \n Dolly Varden's\n \n effort to advance one of the large...