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Dolly Varden Silver Closes $28.76 Million Bought-Deal Financing, With Participation by Eric Sprott
Vancouver, British Columbia--(Newsfile Corp. - June 26, 2025) - Dolly Varden Silver Corporation (...
About this update from Dolly Varden Silver Corporation
[{"type":"text","content":"Dolly Varden Silver Closes $28.76 Million Bought-Deal Financing, With Participation by Eric SprottVancouver, British Columbia--(Newsfile Corp. - June 26, 2025) - Dolly Varden Silver Corporation (TSXV: DV) (NYSE American: DVS) (FSE: DVQ) (the \"Company\" or \"Dolly Varden\") has closed its previously announced bought-deal private placement for aggregate gross proceeds to the Company of $28,755,500, pursuant to which Dolly Varden sold:a) 2,445,500 common shares of the Company (\"Common Shares\") at a price of $4.60 per Common Share for gross proceeds of $11,249,300, issued on a prospectus-exempt basis pursuant to the 'listed issuer financing exemption' (LIFE) under applicable Canadian securities laws (the \"LIFE Offering\"); b) 1,128,000 Common Shares that qualify as \"flow-through shares\" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the \"Tax Act\") and were issued as part of a charity arrangement (each, a \"Charity FT Share\") at a price of $6.65 per Charity FT Share for gross proceeds of $7,501,200, to be issued under the LIFE Offering; andc) 1,740,000 Common Shares qualify as \"flow-through shares\" within the meaning of subsection 66(15) of the Tax Act (each, a \"FT Share\") at a price of $5.75 per FT Share for gross proceeds of $10,005,000, to be issued on a prospectus exempt basis (the \"Private Placement Offering\", and together with the LIFE Offering, the \"Offerings\").Mr. Eric Sprott, through 2176423 Ontario Ltd., acquired Common Shares under the LIFE Offering. The Offerings were completed on a bought deal private placement basis pursuant to an underwriting agreement dated June 26, 2025 between the Company and a syndicate of underwriters co-led by Research Capital Corporation, as sole bookrunner, and Raymond James Ltd., and included Haywood Securities Inc. (collectively, the \"Underwriters\"). The net proceeds from the sale of Common Shares will be used for working capital and general corporate purposes. The gross proceeds from the sale of Charity FT Shares and FT Shares will be used for further exploration, mineral resource expansion and drilling in the combined Kitsault Valley project and other mineral properties, located in northwestern British Columbia, Canada, as well as for working capital as permitted, as Canadian Exploration Expenses as defined in paragraph (f) of the definition of \"...