Doubleview Capital Corp. Announces Proposed Qualifying Transaction

DOUBLEVIEW CAPITAL CORP. ("Doubleview") (TSX VENTURE:DBV.P), a capital pool
company, is pleased to announce that it has entered into an agreement dated
February 22, 2011 (the "Agreement") with 0895277 B.C. Ltd. (the "Optionor"), a
company controlled by Farshad Shirvani, a director of Doubleview, whereby the
Optionor has granted Doubleview an option to acquire a 100% interest in the
Mount Milligan North Property (the "Transaction"). Doubleview is a capital pool
company ("CPC") and intends the Transaction to constitute a Qualifying
Transaction under the TSX Venture Exchange (the "Exchange") Policy 2.4 - Capital
Pool Companies.


About the Mount Milligan North Property and the Optionor

The Mount Milligan North Property (the "Property") is comprised of 26 contiguous
mineral claims totaling 8,390 hectares and is located approximately 165
kilometres northwest of Prince George, British Columbia. The Property is
accessed by Germansen North Forest Service Road 112 kilometres from Fort St.
James and then easterly along well-used logging roads and a network of former
haul roads that remain throughout the Property. Located approximately 7
kilometres south of the Property is the Mt. Milligan Property.


In 2010, the Optionor completed a geochemical sampling program comprising of 430
soil samples analyzed by mobile metal ion ("MMI") methods. MMI is a partial
leach method that measures the presence of metal ions derived from underlying
bedrock and transported to the surface environment. This program confirmed the
presence of elevated levels of gold and copper-in-soil on the Property.


The Optionor is a company incorporated under the laws of British Columbia. The
sole shareholder and director of the Optionor is Farshad Shirvani, who is also
director of Doubleview.


Terms of Proposed Qualifying Transaction

Under the terms of the Agreement, Doubleview will be able to acquire a 100%
interest in the Property by:




a.  paying $50,000 to the Optionor on the date of the final Exchange
    bulletin (the "Exchange Approval Date");
b.  issuing the following securities to the Optionor: 
    i.  1,200,000 common shares of Doubleview on the Exchange Approval Date;
        and
    ii. warrants to purchase 1,000,000 common shares of Doubleview by the
        second anniversary of the Exchange Approval Date (the "Warrants").
        The Warrants will be exercisable at a price of $0.15 per share until
        two years from the date of issuance.
c.  incurring a total of $500,000 of exploration expenditures on the
    Property as follows: 
    i.  $200,000 in exploration expenditures on the Property by the first
        anniversary of the Exchange Approval Date; and
    ii. $300,000 in exploration expenditures on the Property by the second
        anniversary of the Exchange Approval Date.



In addition, the Optionor will retain a 2% net smelter return royalty (the
"Royalty") on the Property. Doubleview may purchase 1% of the Royalty by paying
the Optionor $1,000,000.


The Transaction is conditional upon, among other things, Doubleview receiving
confirmation from the Optionor that it is recorded as the registered title
holder of the Property, and acceptance by the TSX Venture Exchange of any and
all filings required to made with the Exchange.


Farshad Shirvani, a director of Doubleview, is a non-arms length party to the
Transaction as he is the sole shareholder and director of the Optionor. Other
than Mr. Shirvani, no other director or officer of Doubleview has as an interest
in the Optionor. This Transaction is a non-arm's length qualifying transaction
due to the fact that Mr. Shirvani controls the Optionor and owns 15.5% of
Doubleview. As a result, shareholder approval is required for the Transaction.


Proposed Flow-Through Private Placement

In conjunction with the Transaction, Doubleview's board of directors has also
approved a proposed private placement offering of up to 1,111,111 flow-through
common shares of Doubleview at a price of $0.18 per share for gross proceeds of
$200,000. The proceeds of this offering will be used to fund the proposed work
program on the Property. Subject to Exchange approval, finder's fees may be
payable in connection with this private placement.


About Doubleview

Doubleview was incorporated on January 18, 2008 and completed its initial public
offering on November 17, 2010. Since the listing of its common shares on the
Exchange, on November 19, 2010, Doubleview's business has been restricted to the
identification and evaluation of mineral properties for the purpose of
completing its Qualifying Transaction. Upon completing the Transaction,
Doubleview expects to be listed as a Tier 2 Mining Issuer on the Exchange.


On closing of the Transaction, it is anticipated that Mr. Shirvani will be
appointed as Chief Executive Officer and President and Neil MacDonald will
remain as the Chief Financial Officer and Chairman. In addition, Doubleview
plans to appoint an additional independent director on completion of the
Transaction.


Information set forth in this news release contains forward-looking statements.
These statements reflect management's current estimates, beliefs, intentions and
expectations; they are not guarantees of future performance. Doubleview cautions
that all forward looking statements are inherently uncertain and that actual
performance may be affected by a number of material factors, many of which are
beyond Doubleview's control. Such factors include, among other things: risks and
uncertainties relating to Doubleview's ability to complete the proposed
Qualifying Transaction; its ability to acquire a 100% interest in the Property
and other risks and uncertainties, including those described in Doubleview's
Amended and Restated Prospectus dated September 8, 2010 filed with the Canadian
Securities Administrators and available on www.sedar.com. Accordingly, actual
and future events, conditions and results may differ materially form the
estimates, beliefs, intentions and expectations expressed or implied in the
forward looking information. Except as required under applicable securities
legislation, Doubleview undertakes no obligation to publicly update or revise
forward-looking information.


Completion of the transaction is subject to a number of conditions, including
but not limited to, Exchange acceptance and if applicable pursuant to Exchange
Requirements, majority of the minority shareholder approval. Where applicable,
the transaction cannot close until the required shareholder approval is
obtained. There can be no assurance that the transaction will be completed as
proposed or at all.


Investors are cautioned that, except as disclosed in the management information
circular or filing statement to be prepared in connection with the transaction,
any information released or received with respect to the transaction may not be
accurate or complete and should not be relied upon. Trading in the securities of
a capital pool company should be considered highly speculative.
Canadian Platinum Corp. (TSXV:CPC)
過去株価チャート
から 6 2024 まで 7 2024