VANCOUVER, March 2, 2020 /CNW/ - Dolly Varden Silver
Corporation (TSX.V: DV | U.S.: DOLLF) (the
"Company" or "Dolly Varden") is pleased to announce
that it has appointed Ann Fehr as
Chief Financial Officer and Corporate Secretary effective
March 1, 2020. Ms. Fehr CPA,
CGA received her accounting designation in 1996 and has more than
25 years of business experience with management, complex
transactions, corporate finance, financial reporting, governance,
and regulatory compliance. She has held part-time officer positions
for venture listed companies since 2009 and is the founder and
president of Fehr & Associates, which provides consulting
services to a number of mineral exploration company clients. Ms.
Fehr and the accounting team at Fehr & Associates are joining
the Dolly Varden team to assist with financial management,
reporting, administration and corporate governance.
"On behalf of the board of directors, I would like to welcome
Ms. Fehr to the team at this exciting time and thank our former
CFO, Carla Hartzenberg for her
commitment and many contributions at Dolly Varden. We wish her well
in all future endeavors" said Shawn
Khunkhun, CEO President and Director.
In association with appointment, the Company granted a total of
200,000 stock options to purchase common shares ("Shares")
of the Company, each of which entitles the holder to purchase one
Share at a price of $0.25 per Share
for a period of 5 years with vesting over a two-year period. The
grant of stock options was made in accordance with the Company's
stock option plan and is subject to TSX Venture Exchange
("TSXV") approval. Any Shares issued on the exercise of
these stock options will be subject to a four-month and one day
hold period from the date of grant.
Further to its news release of February
18, 2020, the Company has issued 489,795 Shares to
Gary Cope, the former President and
CEO of the Company, at a price per Share of $0.245 in settlement of the $120,000 cash amount due to Mr. Cope under his
consulting agreement with the Company. The Shares were issued to
Mr. Cope on February 28, 2020 and are
subject to a four-month and one day hold period, which expires on
June 29, 2020.
About Dolly Varden
Dolly Varden Silver Corporation is a mineral exploration company
focused on exploration in northwestern British Columbia. Dolly Varden has two
projects, the namesake Dolly Varden silver property and the nearby
Big Bulk copper-gold property. The 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 host numerous other high-grade deposits
(Eskay Creek, Brucejack). The Big
Bulk property is prospective for porphyry and skarn style copper
and gold mineralization similar to other such deposits in the
region (Red Mountain, KSM, Red
Chris).
Dolly Varden is also a member of the British Columbia Regional
Mining Alliance, a cooperative effort between First Nations,
Industry and the BC Provincial Government, to promote mining
activities and investment in the northwestern region.
Additional information about the Company and its activities may
be found on the Company's website www.dollyvardensilver.com and
under the Company's profile at www.sedar.com.
FORWARD-LOOKING STATEMENTS:
This release may contain forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties, and other factors which may cause the actual
results, performance, or achievements of Dolly Varden to be
materially different from any future results, performance, or
achievements expressed or implied by the forward-looking
statements. Forward-looking statements relate to, among other
things, the appointment of replacement management and TSXV approval
of the options granted. These forward-looking statements are based
on management's current expectations and beliefs but given the
uncertainties, assumptions and risks, readers are cautioned not to
place undue reliance on such forward-looking statements or
information. The Company disclaims any obligation to update, or to
publicly announce, any such statements, events or developments
except as required by law.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this news
release.
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SOURCE Dolly Varden Silver Corp.
