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Deethree Exploration Ltd Announces $30 Million Bought Deal

Monday, 28 Jan 2013 04:39pm EST 

Deethree Exploration Ltd announced that it has entered into an agreement, on a bought deal basis, with a syndicate of underwriters co-led by Macquarie Capital Markets Canada Ltd. (book runner), Raymond James Ltd., and Cormark Securities Inc., and including Dundee Securities Ltd., Stifel Nicolaus Canada Inc., and Casimir Capital Ltd. (collectively, the Underwriters), to purchase 4,420,000 common shares of the Company (the Common Shares) at a price of $6.80 per Common Share for aggregate gross proceeds of $30,056,000 (the Offering). The Company has also granted the Underwriters an over-allotment option to increase the size of the Offering by purchasing from treasury up to an additional 663,000 Common Shares on the same terms, exercisable in whole or in part at any time prior to 30 days after the closing of the Offering. The net proceeds from the Offering will be used to fund ongoing capital expenditures and for general corporate purposes. Closing of the Offering is anticipated to occur on or about February 19, 2013. 

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