11:18 AM EDT, 10/22/2020 (MT Newswires) -- Dolly Varden Silver Corporation (DV.V, down 4.5%, intends to undertake a private placement financing to raise gross proceeds of up to $5 million from the sale of up to 5 million flow-through common shares at $1.00 per share. The offering is expected to close about November 13.

The net proceeds will be used for further exploration, mineral resource expansion and drilling at the Dolly Varden silver property in northwestern British Columbia, as well as for working capital as permitted.

"We have been very encouraged with recent drilling success, particularly with step out high-grade silver intercepts targeting extension of the Torbrit deposit," said CEO Shawn Khunkhun.

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