Dolly Varden Silver Corporation has successfully closed a bought-deal private placement, raising a total of $28.76 million. The company sold 2,445,500 common shares at $4.60 each, generating gross proceeds of $11.25 million. Notably, investor Eric Sprott participated in the offering. The transaction was conducted on a private placement basis with a syndicate of underwriters led by Research Capital Corporation and Raymond James Ltd., including Haywood Securities Inc. The underwriters received a cash fee of $1.44 million, which is 5% of the gross proceeds. The funds raised will support working capital and general corporate purposes, as well as exploration and drilling activities in the Kitsault Valley project in British Columbia, Canada.