VANCOUVER, BC, March 9, 2022 /CNW/ - Dolly Varden Silver
Corporation (TSXV: DV) (OTC: DOLLF) (the "Company" or
"Dolly Varden") announces
that it proposes to issue 402,815 common shares in the capital of
the Company ("Common Shares") to Haywood Securities Inc.
("Haywood") pursuant to a
financial advisory agreement between Haywood and the Company. As previously
described in the Company's management information circular dated
January 24, 2022 (the
"Circular"), Dolly Varden
engaged Haywood to provide
financial advisory services in connection with Dolly Varden's acquisition of a 100% interest in
the Homestake Ridge gold-silver project from Fury Gold Mines Ltd.
("Fury"), which closed on February
25, 2022 (the "Transaction"). Haywood will be issued the Common Shares at a
deemed price of $0.5896 per share for
an aggregate value of $237,499.72,
which represents a portion of Haywood's fee for advisory services they
provided to Dolly Varden in respect
of the Transaction. The deemed price per share of $0.5896 is substantially equal to the price per
share issued by Dolly Varden to Fury
and Hecla Canada Ltd. in connection with the Transaction.
The issuance of the Common Shares to Haywood is subject to the approval of the TSX
Venture Exchange.
Further information regarding the Transaction is provided in the
Circular and the Company's news release announcing closing of the
Transaction dated February 25, 2022.
The Circular and closing news release are available under the
Company's profile on SEDAR at www.sedar.com.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company
focused on advancing its 100% held Kitsault Valley Project (which
combines the Dolly Varden Project and the Homestake Ridge Project)
located in the Golden Triangle of British
Columbia, Canada, 25kms by road to tide water. The 163 sq.
km. project hosts the high-grade silver and gold resources of
Dolly Varden and Homestake Ridge
along with the past producing Dolly
Varden and Torbrit silver mines. It is considered to be
prospective for hosting further precious metal deposits, being on
the same structural and stratigraphic belts that host numerous
other, on-trend, high-grade deposits, such as Eskay Creek and Brucejack. The Kitsault Valley
Project also contains the Big Bulk property which is prospective
for porphyry and skarn style copper and gold mineralization,
similar to other such deposits in the region (Red Mountain, KSM,
Red Chris).
Forward Looking Statements
This release may contain forward-looking statements or
forward-looking information under applicable Canadian securities
legislation that may not be based on historical fact, including,
without limitation, statements containing the words "believe",
"may", "plan", "will", "estimate", "continue", "anticipate",
"intend", "expect", "potential", and similar expressions.
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 or
information in this release relates to, among other things, the
issuance of Common Shares to Haywood.
These forward-looking statements are based on management's
current expectations and beliefs and assume, among other things,
the ability of the Company to successfully pursue its current
development plans, that future sources of funding will be available
to the company, that relevant commodity prices will remain at
levels that are economically viable for the Company and that the
Company will receive relevant permits in a timely manner in order
to enable its operations, 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.
For additional information on risks and uncertainties, see the
Company's most recently filed annual management discussion &
analysis ("MD&A") and management information circular
dated January 21, 2022 (the
"Circular"), both of which are available on SEDAR at
www.sedar.com. The risk factors identified in the MD&A and the
Circular are not intended to represent a complete list of factors
that could affect the Company.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX-V)
accepts responsibility for the adequacy or accuracy of this news
release.
SOURCE Dolly Varden Silver Corp.
