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Message: TSXV-Listed Dolly Varden Silver Raises $3.7 Mln In Initial Tranche Of Flow-Though Share Offering


2018-08-24 01:27:01 PM ET (MT Newswires)

01:27 PM EDT, 08/24/2018 (MT Newswires) -- Dolly Varden Silver (DV.V) it closed the initial tranche of a flow-through share offering as it raises funds for exploration of its British Columbia silver property, raising $3.7 million.

The company said it sold 6.73 million of the tax-advantaged shares for $0.55 each. The offer is for a total 7.65 million of the shares.

"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 ... as well as ongoing working capital for 2018," it said in a statement. "The 2018 exploration program budget is $8.9 million and approximately 25,000 metres of diamond drilling,"

The company's shares were last seen up $0.015 to $0.445 on the TSX Venture Exchange

Price: 0.45, Change: +0.02, Percent Change: +3.49

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