Business
Dolly Varden Silver Announces Issuance of Common Shares for Acquisition of Big Bulk Property Option
Vancouver, British Columbia--(Newsfile Corp. - January 9, 2024) - Dolly Varden Silver Corporation...
About this update from Dolly Varden Silver Corporation
[{"type":"text","content":"Dolly Varden Silver Announces Issuance of Common Shares for Acquisition of Big Bulk Property OptionVancouver, British Columbia--(Newsfile Corp. - January 9, 2024) - Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the \"Company\" or \"Dolly Varden\") is pleased to announce that, further to its news release dated December 20, 2023, it has completed the issuance of 275,000 common shares of the Company (the \"Consideration Shares\") to Libero Copper & Gold Corporation (\"Libero\") as consideration for the acquisition by Dolly Varden of an option agreement (the \"Option Agreement\") from Libero entitling Dolly Varden to earn-in a 100% undivided interest in the property known to Libero as the Big Bulk Property, comprised of seven mineral claims in the Golden Triangle, British Columbia (the \"Acquisition\"). In connection with the issuance of the Consideration Shares to Libero, the Company has filed a prospectus supplement to its base shelf prospectus dated April 25, 2023 to qualify the distribution thereof.In connection with the Acquisition, Dolly Varden also entered into a further amending agreement to the Option Agreement clarifying that Dolly Varden may only elect to issue common shares of the Company to satisfy any option payments under the Option Agreement so long as the deemed price of the common shares at the time is equal to or greater than $0.64, as required by the rules of the TSXV. Whether Dolly Varden chooses to make such payments is cash or common shares is otherwise at the discretion of Dolly Varden.About Dolly Varden Silver CorporationDolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Project and the Homestake Ridge Project) located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 163 sq. km. project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge along with the past producing Dolly Varden and Torbrit silver mines. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, high-grade deposits, such as Eskay Creek and Brucejack. The Kitsault Valley Project also contains the Big Bulk property which is prospective for porphyry and skarn...