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Detour Gold Corp Announces CAD106 Million Bought Deal Offering


Tuesday, 20 Nov 2012 04:04pm EST 

Detour Gold Corp announced that it has entered into an agreement with a syndicate of underwriters, led by BMO Capital Markets, under which the underwriters have agreed to buy 4,000,000 common shares of the Company (Common Shares) at a price of CAD26.50 per Common Share, representing aggregate gross proceeds of CAD106,000,000. In addition, the underwriters will also have an over-allotment option exercisable at any time until 30 days following the closing of the offering to increase the size of this offering by up to an additional 600,000 Common Shares for additional gross proceeds of up to CAD15,900,000. The Company intends to use the net proceeds of the offering for working capital during the ramp-up of the Detour Lake Mine and for general corporate purposes. 

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