Global measured and indicated mineral resources of 20.5 million ounces (inclusive of mineral reserves)

Advancing North America's 4th Largest Gold Reserves Towards Development

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Maxfli

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Detour to raise $153 millon

posted on May 22, 2013 04:36AM

Detour Gold to raise $153 million

Bought deal offering at $8.75 per share

Detour Gold Tuesday 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 17.5 million common shares of the company at a price of $8.75 per share, for gross proceeds of $153,125,000, this according to a company news release.

Detour Gold said it plans to use the funds for working capital during the ramp-up of the Detour Lake mine and for general corporate purposes.