Dolly Varden Silver Corporation announced that it has received CAD 28.7555 million in funding from 2176423 Ontario Ltd., Hecla Canada Ltd., Fury Gold Mines Limited and other investors

Published: 2025-06-26 13:05:59 ET DV.V

Published on 06/26/2025 at 13:05

On June 26, 2025, Dolly Varden Silver Corporation closed the transaction. The company announced thar it has issued 2,445,500 common shares at a price of CAD 4.60 per Common Share for gross proceeds of CAD 11,249,300, 1,128,000 Flow-Through Common Shares at an issue price of CAD 6.65 per Charity FT Share for gross proceeds of CAD 7,501,200 and 1,740,000 Common Shares at an issue price of CAD 5.75 per FT Share for gross proceeds of CAD 10,005,000, aggregate gross proceeds of CAD 28,755,500. The Common Shares and Charity FT Shares issued pursuant to the LIFE Offering are not subject to a statutory hold period.

The FT Shares issued pursuant to the Private Placement Offering are subject to a hold period in Canada expiring on October 27, 2025. In connection with the closing of the Offerings, the Underwriters received a cash fee equal to CAD 1,437,775, representing 5.0% of the gross proceeds of the Offerings.