VANCOUVER, Feb. 26, 2018 -
DV Resources Ltd. ("DLV" or the "Company") (TSXV – DLV.H) is pleased to announce the closing of its non-brokered private placement (the "Private Placement") of 40,000,000 units (the "Unit") at a price of $0.08 per unit for total gross proceeds of $3,200,000. Each Unit consists of one common share of the Company and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to acquire one common share of the Company at an exercise price of $0.11 until February, 26, 2019. All shares and Warrants issued pursuant to the Private Placement are subject to a four month hold period expiring June 27, 2018.
The Company further announces that Bedrock Capital Corp. ("Bedrock"), a company owned and controlled by Paul Matysek, acquired 6,150,000 Units of the Company pursuant to the Private Placement. Prior to the Private Placement, Bedrock did not own any common shares of the Company. As a result of the acquisition of securities described above, Bedrock now owns an aggregate, 6,150,000 common shares of the Company, representing 8.31% of the current issued and outstanding common shares of the Company and 6,150,000 Warrants. Bedrock would own 12,300,000 common shares, representing 15.35% of the outstanding shares of the Company on a partially diluted basis, assuming exercise of 6,150,000 share purchase warrants held by Bedrock.
The net proceeds of $3,200,000 raised through the Financing will be used for general working capital purposes.
ON BEHALF OF DLV RESOURCES LTD.
"Geir Liland"
Geir Liland, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
DV Resources Ltd.
Jasvir Kaloti, CFO & Corporate Secretary
Tel: (604) 609-6138
