(via Thenewswire.ca)
Doubleview Capital Corp. ("Doubleview") (TSX-V: DBV) announces that certain directors have sold an aggregate of 2,760,233 common shares of Doubleview on December 20, 2012 from their personal holdings through the facilities of the TSX Venture Exchange. The directors will use all of the net proceeds from the sale of these shares to purchase units under Doubleview's non-brokered private placement financing announced on December 19, 2012.
As a result of the proposed purchase of units by these directors, Doubleview anticipates that insiders may subscribe for greater than 25% of the private placement. The issuance of shares to insiders pursuant to the private placement is considered to be a related party transaction subject to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101. Doubleview intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of Multilateral Instrument 61-101 on the basis that participation in the private placement by insiders will not exceed 25% of the fair market value of Doubleview's market capitalization
On behalf of the Board of Directors,
Farshad Shirvani, President & Chief Executive Officer
