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Dolly Varden Closes Final Tranche Of Offering Of Flow-Through Shares

September 28, 2018 – Vancouver, BC: Dolly Varden Silver Corporation (TSXV: DV) (the “Company” or “Dolly Varden”) is pleased to announce that it has closed the final tranche of $500,500 (“Tranche 2”) of its private placement financing (the “Offering”) to raise gross proceeds of approximately $4.2 million, originally announced on August 7, 2018 and increased on August 9, 2018. The Offering consisted of the sale of 7,637,636 common shares in the capital of the Company that qualify as “flow-through shares” (“Flow-Through Shares”) as defined in the Income Tax Act (Canada), at a price of $0.55 per share. A total of 910,000 Flow-Through Shares were issued to subscribers under Tranche 2.

The net proceeds of the Offering will be used for further exploration and mineral resource expansion of the Dolly Varden silver property in northwestern British Columbia, Canada, as well as ongoing working capital for 2018. The 2018 exploration program budget is $8.9 million and approximately 25,000 metres of diamond drilling.

In connection with the Offering, the Company will pay a finder’s fee in respect of those purchasers introduced to the Company by Eventus Capital Corp. (“Eventus”). Eventus will receive a cash payment equal to 6% of the gross proceeds received from purchasers under Tranche 2 who were introduced by Eventus, for a total of approximately $30,000.

The Flow-Through Shares issued pursuant to the closing of Tranche 2 are subject to a statutory hold period which expires in four months and one day. A total of 56,122,404 Common shares of the Company are outstanding following closing of Tranche 2.

About Dolly Varden Silver Corporation – Dolly Varden is a mineral exploration company focused on the exploration of the Dolly Varden silver property located in northwestern British Columbia, Canada. The entire Dolly Varden property is considered to be highly prospective for hosting high-grade precious metal deposits, since it comprises the same structural and stratigraphic setting that hosts numerous other, on-trend, high-grade deposits (Eskay Creek, Brucejack).

Contact Information:

Dolly Varden Silver Corporation

Gary Cope
President and CEO
1-604-687-8566
www.dollyvardensilver.com

Alex Tsakumis
Vice President – Corporate Development
1-604-687-8566
alex@belcarragroup.com

NT4

The post Dolly Varden Closes Final Tranche Of Offering Of Flow-Through Shares appeared first on NationTalk.

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