Detour Gold Corporation (TSX: DGC) ("Detour Gold" or the
"Company") is pleased to announce that it has completed its previously
announced bought deal private placement of 4,000,000 special warrants
(the "Special Warrants"). The Special Warrants were issued to investors
under applicable prospectus exemptions at a price of $16.30 per Special
Warrant, representing an aggregate amount of $65,200,000. Each Special
Warrant entitles the holder to acquire, for no additional consideration,
one common share of Detour Gold. The net proceeds of the offering will
be used mainly to advance the exploration and development of the Detour
Lake project in Ontario. The private placement was underwritten by a
syndicate of underwriters led by BMO Capital Markets ("BMO").
The Special Warrants and the underlying common shares are subject to a
four-month hold in Canada. Detour Gold has agreed with BMO and the other
underwriters to use commercially reasonable efforts to obtain a receipt
for a final prospectus qualifying the issuance of common shares
issuable on exercise of Special Warrants within 60 days from today's
date.
The securities offered have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in
the United States absent registration or an applicable exemption from
the registration requirements.
About Detour Gold
Detour Gold is a Canadian gold exploration and development company with a
highly experienced management and technical team whose primary focus is
to advance the development of its flagship Detour Lake project located
on the northern most, relatively under-explored Abitibi Greenstone Belt
in northeastern Ontario.
For further information, please contact:
Gerald Panneton
President and CEO
Tel: (416) 304.0800
Laurie Gaborit
Director Investor Relations
Tel: (416) 304.0581
Detour Gold Corporation, Royal Bank Plaza, North Tower, 200 Bay Street,
Suite 2040, Toronto, Ontario M5J 2J1
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