Dolly Varden Silver announces $18M flow-through financing

Alisha Hiyate | December 5, 2022 | 11:58 am News Canada 
Core racks at Dolly Varden Silver’s namesake silver project in northwest British Columbia. Credit: Dolly Varden Silver

Dolly Varden Silver is pleased to announce an agreement with Research Capital and Eventus Capital as co-lead agents on behalf of a syndicate of agents in connection with a brokered private placement to raise gross proceeds of up to $18 million from the sale of flow-through shares at a price of $0.90 per share and charity flow-through shares at a price of $1.05 per share. A portion of the offering of up to over 9.5 million charity offered shares will be offered via the listed issuer financing exemption. 

“2022 has been a transformational year for Dolly Varden Silver,” said Shawn Khunkhun, CEO of Dolly Varden. “The technical breakthrough of the discovery of high-grade silver mineralization beneath the sedimentary cap has led to significant expansion of the Wolf deposit footprint, via exceptional and ambitious step out discoveries; and opened up over 5 km of prospective trend heading north to Homestake Ridge.” 

The agents have an overallotment of 15% at the applicable offering prices, exercisable, in whole or in part, at any time up to 48 hours prior to the closing of the offering. However, the charity offered shares are excluded from offers of sale.

Dolly Varden says entire gross proceeds of the offering will be used for further exploration, mineral resource expansion, and drilling in Kitsault Valley located in northwest British Columbia.

For more information visit www.DollyVardenSilver.com.

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