Detour Gold Corporation (TSX: DGC) ("Detour Gold") is pleased to
announce that it has completed its previously announced bought deal
public offering of common shares. The underwriters, led by RBC Capital
Markets, BMO Capital Markets and TD Securities Inc., elected to fully
exercise their over-allotment option, resulting in a total of 19,299,500
common shares being issued for aggregate gross proceeds of
approximately C$275 million.
The net proceeds of the offering will be used to advance the Detour Lake
gold project and for general corporate purposes.
The securities offered have not been and will not be 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 any
applicable exemption from the registration requirements. This press
release does not constitute an offer to sell or the solicitation of an
offer to buy nor will there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful.
About Detour Gold
Detour Gold is a Canadian gold exploration and development company whose
focus is to advance the development of its Detour Lake gold project
located in northeastern Ontario. Detour Gold's shares trade on the
Toronto Stock Exchange under the trading symbol DGC.
For further information, please visit Detour Gold's website at www.detourgold.com,
email info@detourgold.com
or 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.
Forward-Looking Information
This press release contains certain forward-looking information as
defined in applicable securities laws (referred to herein as
"forward-looking statements"). Specifically, this press release contains
forward-looking statements regarding Detour Gold's intent to use the
net proceeds to advance the Detour Lake Project towards the development
stage. Forward-looking statements involve known and unknown risks,
uncertainties and other factors which are beyond Detour Gold's ability
to predict or control and may cause Detour Gold's actual results,
performance or achievements to be materially different from any of its
future results, performance or achievements expressed or implied by
forward-looking statements. These risks, uncertainties and other factors
include, but are not limited to, gold price volatility, changes in debt
and equity markets, the uncertainties involved in interpreting
geological data, increases in costs, environmental compliance and
changes in environmental legislation and regulation, interest rate and
exchange rate fluctuations, general economic conditions and other risks
involved in the gold exploration and development industry, as well as
those risk factors discussed in the section entitled "Description of
Business -- Risk Factors" in Detour Gold's 2008 annual information form.
Such forward-looking statements are also based on a number of
assumptions which may prove to be incorrect, including, but not limited
to, assumptions about the following: the availability of financing for
exploration and development activities; the estimated timeline for the
development of the Detour Lake Project; the supply and demand for, and
the level and volatility of the price of gold; the accuracy of resource
estimates and the assumptions on which the resource estimates are based;
market competition; ongoing relations with employees and local
communities; and general business and economic conditions. Accordingly,
readers should not place undue reliance on forward-looking statements.
Detour Gold undertakes no obligation to update publicly or otherwise
revise any forward-looking statements contained herein whether as a
result of new information or future events or otherwise, except as may
be required by law.
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