Vancouver, British Columbia, March 7, 2022 (GLOBE NEWSWIRE) — Dolly Varden Silver Corporation (TSXV: DV) (OTC: DOLLF) (“society” Also “Dolly Varden“) We are a syndicate of distributors, including Haywood Securities Inc. (collectively,”Agent“) Mediated private placement financing in connection with best efforts (“)Recruitment“) Raise up to $ 10 million in total revenue from the sale of up to 9.8 million shares of common stock of the Company qualifying as” flow-through shares “as defined below. Income tax law (Canada)(“Shares offered“) At a price of $ 1.02 per share (“)Offer price“).
“Following the transformational acquisition of Homestake Ridge, these additional funds will enable the company to aggressively advance one of Western Canada’s largest high-definition, undeveloped silver and gold assets.” Sean Kunkun, Chief Executive Officer, commented.
The agent has options (“Agent options“) Sell up to 15% of the number of offering shares sold at the offering at the offering price. This means that all or part of the agent’s options can be exercised at any time up to 48 hours in advance. The end of.
The net offering revenue will be used for further exploration, expansion of mineral resources, drilling, and permitted working capital in the Kiso Valley, northwestern British Columbia, Canada.
In connection with the offering, the agent receives a cash fee equivalent to 6.0% of the total revenue of the offering, including the agent’s options.
Securities issued under the offering will be provided by private placement in each Canadian state and other jurisdictions determined by us, in all cases in accordance with the applicable exemptions from the requirements of the prospectus under the applicable securities. .. law.
Issuance of offered shares and payment of agent fees under the offer are subject to the approval of the TSX Venture Exchange, the approval of other required regulatory agencies and the receipt of other customary termination conditions. The end of the offering is expected to occur around March 30, 2022. Securities issued under the offering are subject to a statutory holding period of 4 months and 1 day.
Follow the neighboring rights agreement between Hecla Canada Ltd. (“Hekura“) And as of September 4, 2012, the Company reserves the right to acquire the Company’s common stock at a price of $ 0.86 per share in order to maintain its proportional equity. When exercising proportional distribution rights under a contract, common shares issued to Hekra will be added to those issued as part of the offer.
Based on an investor rights agreement with Fury Gold Mines Ltd. (“Fury“) And as of February 25, 2022, we reserve the right to acquire our common stock at a price of $ 0.86 per share in order to maintain our proportional equity. Fury is an investor right. When exercising proportional distribution rights under a contract, common stock issued to Fury will be added to those issued as part of the offer.
This release does not constitute an offer to sell or buy securities in the United States. The securities listed here have not been and will not be registered as amended under the Securities Act of 1933.US Securities Act“), Or state securities law, provided or sold in the United States unless it complies with the registration requirements of US securities law and applicable state securities law, or is subject to the exemptions available from them. You can not.
About Dolly Baden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company focused on promoting the 100% owned Kitsault Valley Project (a combination of the Dolly Varden Project and the Homestake Ridge Project) in the Golden Triangle, British Columbia, Canada. 163 square kilometers. The project hosts the high quality silver and gold resources of Dolly Varden and Homestake Ridge, along with previously produced Dolly Varden and Dolly Varden silver mines. It is on the same structure and stratification belt as it hosts high-grade deposits in many other trends, such as Eskay Creek and Brucejack, and is believed to have the potential to host precious metal deposits. The Kiso Valley project also includes porphyry and skarn-style copper and gold mineralization big bulk properties, as well as other such deposits in the region (Red Mountain, KSM, Red Chris). I am.
Description of future prospects
This release may contain forward-looking statements or information about future prospects under applicable Canadian securities law that may not be based on past facts. , “Estimation”, “continuation”, “expectation”, “intention”, “expectation”, “potential” and so on. Forward-looking statements include known and unknown risks, uncertainties, and other factors that represent or imply future prospects for Dolly Varden’s actual results, performance, or outcomes. It can differ significantly from future results, performance, or outcomes. statement. The forward-looking statements or information in this release relate, among other things, to the completion of the offering, the approval of the TSX Venture Exchange for the offering, the use of revenue for the offering, the results of previous fieldwork and programs, and the ongoing operation. increase. Current exploration program, interpretation of the nature of the mineralization in the project, and the similarity of the mineralization in the project to Eskay and Brucejack, the potential for growth of the project as a result of the estimation of mineral resources in the project, Expand our belief in the potential mineralization and unexplored parts of the property.
These forward-looking statements are based on the current expectations and beliefs of management, among other things, our ability to successfully carry out our current development plans, future sources of funding available to us and related. The price of the goods to be sold remains at a level that is economically feasible for us, and we receive relevant permits in a timely manner to enable our business, but in view of uncertainty, assumptions and risks, our readers do so. Be careful not to overly rely on such progress. The statement or information you are looking at. We undertake no obligation to update or publicly announce such statements, events, or developments, except as required by law.
For more information on risks and uncertainties, please refer to our recently submitted annual management discussion and analysis.MD & A“) And the management information circulation dated January 21, 2022 (“)Circular“), Both are available at SEDAR’s www.sedar.com. The risk factors identified in MD & A and Circular are not intended to represent a complete list of factors that may affect us. There is none.
Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX-V policy) is responsible for the validity or accuracy of this news release.
For more information: Shawn Khunkhun, CEO and Director, 1-604-602-1440, www.dollyvardensilver.com;
CBJ News Maker
Dolly Varden Silver Announces $ 10 Million Flow Through Private Placement Mediation by Canadian Business Journal
Source link Dolly Varden Silver Announces $ 10 Million Flow Through Private Placement Mediation by Canadian Business Journal