Doubleview Capital (TSX-V:DBV, StockForum), a Vancouver-based firm engaged in the exploration and development of North American mineral properties, announced today that the company's recently issued share purchase warrants were exercised at $0.15 per share for gross proceeds of $126,000.
According to the news release, “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.”
After the transaction, Doubleview will still have 20,233,511 share purchase warrants outstanding. Said warrants were issued as part of private placement offerings dated December 2012, May 2013, September 2013 and October 2013.
Doubleview director and CEO, Farshad Shirvani, commented, “This warrant exercise shows the continued support of our shareholders in Doubleview.”
The company also gave an update on its Hat Project, stating that the 2013 IP surveying and diamond drilling programs in the Anomaly B area showed what just might be a classic copper-gold alkalic porphyry mineral zone. The zone itself possessed both lateral and vertical continuity and wasn't limited in any direction.
With these promising results, Doubleview intends to further explore the recently uncovered 'Anomaly B' mineral zone all the way to Anomaly C located approximately 2.5 km west of drill hole HAT-08. Other areas targeted by the prospecting and technical surveys will also be explored further.
The news release also stated that Doubleview possesses an option to acquire 100% interest in the Hat Project, subject to a 2% net smelter return royalty.
Doubleview was in the news recently when the company announced drill results in late January.
Shares gained 17.3% on the news and ran to $0.27 per share, completing a 350% price rise since January 1..
Currently there are 28.5m outstanding shares with a market cap of $7.1 million.