Detour Gold Corporation (TSX:DGC) ("Detour Gold") is pleased to announce that it has completed its previously announced bought dealpublic offering of common shares. The underwriters, led by RBC CapitalMarkets, BMO Capital Markets and TD Securities Inc., elected to fullyexercise their over-allotment option, resulting in a total of19,299,500 common shares being issued for aggregate gross proceeds ofapproximately 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 registeredunder the U.S. Securities Act of 1933, as amended, and may not beoffered or sold in the United States absent registration or anyapplicable exemption from the registration requirements. This pressrelease does not constitute an offer to sell or the solicitation of anoffer to buy nor will there be any sale of the securities in anyjurisdiction in which such offer, solicitation or sale would beunlawful.
About Detour Gold
Detour Gold is a Canadian gold exploration and development companywhose focus is to advance the development of its Detour Lake goldproject located in northeastern Ontario. Detour Gold's shares trade onthe Toronto Stock Exchange under the trading symbol DGC.
For further information, please visit Detour Gold's website at www.detourgold.com.
Forward-Looking Information
This press release contains certain forward-looking information asdefined in applicable securities laws (referred to herein as"forward-looking statements"). Specifically, this press releasecontains forward-looking statements regarding Detour Gold's intent touse the net proceeds to advance the Detour Lake Project towards thedevelopment stage. Forward-looking statements involve known and unknownrisks, uncertainties and other factors which are beyond Detour Gold'sability to predict or control and may cause Detour Gold's actualresults, performance or achievements to be materially different fromany of its future results, performance or achievements expressed orimplied by forward-looking statements. These risks, uncertainties andother factors include, but are not limited to, gold price volatility,changes in debt and equity markets, the uncertainties involved ininterpreting geological data, increases in costs, environmentalcompliance and changes in environmental legislation and regulation,interest rate and exchange rate fluctuations, general economicconditions and other risks involved in the gold exploration anddevelopment industry, as well as those risk factors discussed in thesection entitled "Description of Business -- Risk Factors" in DetourGold's 2008 annual information form. Such forward-looking statementsare also based on a number of assumptions which may prove to beincorrect, including, but not limited to, assumptions about thefollowing: the availability of financing for exploration anddevelopment activities; the estimated timeline for the development ofthe Detour Lake Project; the supply and demand for, and the level andvolatility of the price of gold; the accuracy of resource estimates andthe assumptions on which the resource estimates are based; marketcompetition; ongoing relations with employees and local communities;and general business and economic conditions. Accordingly, readersshould not place undue reliance on forward-looking statements. DetourGold undertakes no obligation to update publicly or otherwise reviseany forward-looking statements contained herein whether as a result ofnew information or future events or otherwise, except as may berequired by law.
For more information, please contact
Detour Gold Corporation
Gerald Panneton
President and CEO
(416) 304.0800
or
Detour Gold Corporation
Laurie Gaborit
Director
Investor Relations
(416) 304.0581
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