Dolly Varden Silver Announces Full Exercise of Underwriters' Option in Bought-Deal Financing for Total of $28.76 Million, with Participation by Eric Sprott

Core Viewpoint - Dolly Varden Silver Corporation has announced the full exercise of underwriters' option in a bought-deal financing, resulting in total gross proceeds of $28,755,500 for the company [5][6]. Group 1: Financing Details - The financing includes the sale of 2,445,500 common shares at a price of $4.60 per share, generating gross proceeds of $11,249,300 [5]. - Additionally, 1,128,000 common shares will be issued as "flow-through shares" at a price of $6.65 per share, yielding gross proceeds of $7,501,200 [5]. - Furthermore, 1,740,000 common shares will be sold as "flow-through shares" at a price of $5.75 per share, resulting in gross proceeds of $10,005,000 [5]. Group 2: Use of Proceeds - The net proceeds from the sale of common shares will be allocated for working capital and general corporate purposes [4]. - Gross proceeds from the sale of Charity FT Shares and FT Shares will be directed towards further exploration, mineral resource expansion, and drilling in the Kitsault Valley project [4]. Group 3: Closing and Regulatory Approvals - The offerings are expected to close on June 26, 2025, subject to necessary regulatory approvals from the TSX Venture Exchange and NYSE American [5][6]. - The LIFE Offering will be conducted under the 'listed issuer financing exemption' and will not be subject to a hold period under applicable Canadian securities laws [7]. Group 4: Participation and Advisory - Eric Sprott, through 2176423 Ontario Ltd., has indicated his intention to participate in the transaction [3]. - Eventus Capital Corp. is serving as a special advisor to the company in connection with the offerings [8]. Group 5: Company Overview - Dolly Varden Silver Corporation is focused on advancing its 100% held Kitsault Valley Project, which includes the Dolly Varden Project and the Homestake Ridge Project, located in British Columbia, Canada [11]. - The project is known for its high-grade silver and gold resources and is considered prospective for further precious metal deposits [11].