Doubleview Capital Corp. Announces Exercise of 840,000 Warrants for Proceeds of $126,000 and Hat Project Updateadmin
February 5, 2014. Vancouver, B.C. Doubleview Capital Corp. ("Doubleview") (TSX-V: DBV) announces that 840,000 previously issued share purchase warrants (the "Warrants") were exercised at a price of $0.15 per share for gross proceeds of $126,000. The Warrants were issued in May 2013 as part of a non-brokered private placement financing and were set to expire on May 31, 2015.
Following the exercise of the Warrants, Doubleview continues to have a total of 20,223,551 share purchase warrants outstanding that were previously issued as part of private placement financings in December 2012, May 2013, September 2013 and October 2013.
"This warrant exercise shows the continued support of our shareholders in Doubleview," notes Farshad Shirvani, CEO and director of Doubleview.
Hat Project Update
As reported in a News Release dated January 20, 2014, the 2013 programs of IP surveying and diamond drilling in the Anomaly B area resulted in discovery of what may prove to be a classic copper-gold alkalic porphyry mineral zone. The zone was shown to have lateral and vertical continuity and has not been limited in any direction. The Company’s management and consultants have now determined the next phase work program on the Hat Project. Further exploration will be directed to the newly discovered ‘Anomaly B’ mineral zone, to Anomaly C about 2.5 km west of drill hole HAT-08, and to other similar targeted areas identified by prospecting and technical surveys.
The initial phase of drilling in 2014 will include several drill holes in the Anomaly B area to further develop the highly regarded zone of copper-gold mineralization. Also several holes will be directed to Anomaly C where copper-gold mineralization was found in outcrops coincident with the highest chargeability readings obtained in the Company’s 2013 induced polarization geophysical survey.
Doubleview holds an option to acquire a 100% interest in the Hat Project, subject to a 2% net smelter return royalty.
Erik A. Ostensoe, P. Geo, a consulting geologist and Doubleview’s Qualified Person within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects with respect to the Hat Project, has reviewed and approved the technical disclosure of this news release. Mr. Ostensoe is not independent of Doubleview as he is a shareholder and is a co-optionor of the Hat Project.
About Doubleview Capital Corp.
Doubleview Capital Corp., a mineral resource exploration and development company, is based in Vancouver, British Columbia, Canada and is publicly traded on the TSX-Venture Exchange [TSX.V:DBV]. Doubleview identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia, Canada. Doubleview increases shareholder value through acquisition and exploration of quality gold, copper and silver properties and the application of advanced state-of-the-art exploration methods. Doubleview’s portfolio of strategic properties provides diversification and mitigates investment risk.
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Doubleview cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Doubleview’s control. Such factors include, among other things: risks and uncertainties relating to results of Doubleview’s exploration program on the Hat Property, limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Doubleview undertakes no obligation to publicly update or revise forward-looking information.
On behalf of the Board of Directors,
Farshad Shirvani, President & Chief Executive Officer
For further information please contact:
Doubleview Capital Corp.
Suite 310, 675 West Hastings Street
Vancouver, BC V6B 1N2
President & CEO
T: (604) 678-9587
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Posted: February 5th, 2014 under ACCESSWIRE.