Company sells 83,333,333 common shares at C$0.18 per share in deal
By Devika Patel
Knoxville, Tenn., Feb. 13 - Dolly Varden Silver Corp. said it plans a C$15 million non-brokered private placement of stock.
The company will sell 83,333,333 common shares at C$0.18 apiece, which is a 14.29% discount to the Feb. 12 closing share price of C$0.21.
Proceeds will be used for general working capital and for work programs on the company's Dolly Varden Project.
Based in Vancouver, B.C., Dolly Varden is a mineral explorer focused on the development of the Dolly Varden Silver Mines property in northwestern British Columbia.
| Issuer: | Dolly Varden Silver Corp.
|
| Issue: | Common shares
|
| Amount: | C$15 million
|
| Shares: | 83,333,333
|
| Price: | C$0.18
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 13
|
| Stock symbol: | TSX Venture: DV
|
| Stock price: | C$0.21 at close Feb. 12
|
| Market capitalization: | C$21.59 million
|
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