- Dolly Varden Silver Corporation (DV) announces brokered private placement to raise $10 million in financing
- The company will issue up to 9.8 million flow-through common shares for $1.02 per share
- The agents will receive an aggregate cash fee equal to six per cent of the gross proceeds
- The net proceeds will be used for further exploration, mineral resource expansion and drilling in Kitsault Valley, and for working capital
- Dolly Varden is a mineral exploration company working on its silver- gold project in the Golden Triangle of British Columbia
- Dolly Varden Silver Corporation (DV) is unchanged and is trading at $0.86 per share as of 1:13 p.m. EST
Dolly Varden Silver Corporation (DV) has announced a brokered private placement for gross proceeds of $10 million.
The company will issue up to 9.8 million flow-through common shares for $1.02 per share.
The agents have an option to sell an additional 15 per cent of the number of shares sold in the offering for the same price for up to 48 hours prior to the closing.
The agents will receive an aggregate cash fee equal to six per cent of the gross proceeds.
In connection with two separate agreements with Fury Gold Mines Ltd. and Hecla Canada Ltd., each company will be entitled to acquire common shares of Dolly Varden $0.86 per share to maintain its pro-rate equity interest after closing the private placement.
Shawn Khunkhun, CEO of Dolly Varden, commented,
“On the heels of the transformational acquisition of Homestake Ridge, these additional funds will allow the company to aggressively advance one of the largest high-grade, undeveloped silver and gold assets in Western Canada.”
The net proceeds will be used for further exploration, mineral resource expansion and drilling in Kitsault Valley, and for working capital.
Dolly Varden is a mineral exploration company working on its silver-gold project in the Golden Triangle of British Columbia.
Dolly Varden Silver Corporation (DV) is unchanged and is trading at $0.86 per share as of 1:13 p.m. EST.