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.
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Issue: | Common shares
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Amount: | C$15 million
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Shares: | 83,333,333
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Price: | C$0.18
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Warrants: | No
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Agent: | Non-brokered
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Pricing date: | Feb. 13
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Stock symbol: | TSX Venture: DV
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Stock price: | C$0.21 at close Feb. 12
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Market capitalization: | C$21.59 million
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