DBV.v News Out...hsb
DOUBLEVIEW CAPITAL CORP. ANNOUNCES EXERCISE OF 840,000 WARRANTS FOR PROCEEDS OF $126,000 AND HAT PROJECT UPDATE
Doubleview Capital Corp
Symbol C : DBV
Shares Issued 28,547,593
Close 2014-02-04 C$ 0.23
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Doubleview receives $126,000 from warrant exercise
2014-02-05 09:10 ET - News Release
Mr. Farshad Shirvani reports.
DOUBLEVIEW CAPITAL CORP. ANNOUNCES EXERCISE OF 840,000 WARRANTS FOR PROCEEDS OF $126,000 AND HAT PROJECT UPDATE
Doubleview Capital Corp.'s 840,000 previously issued share purchase warrants were exercised at a price of 15 cents 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, chief executive officer and director of Doubleview.
Hat project update
As reported in a news release dated Jan. 20, 2014, the 2013 programs of induced polarization 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 kilometres 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-per-cent interest in the Hat project, subject to a 2-per-cent net smelter return royalty.
Disclosure
Erik A. Ostensoe, PGeo, 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.
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