Mr. Paul Martin reports
DETOUR GOLD COMPLETES C$173 MILLION BOUGHT DEAL OFFERING
Detour Gold Corp. has completed its previously announced public offering of 18,653,000 common shares, pursuant to its short-form prospectus dated Feb. 28, 2014, raising gross proceeds of $172,540,250. The underwriters, led by BMO Capital Markets and RBC Capital Markets, purchased all of the 2,433,000 common shares available for issuance pursuant to the exercise of their overallotment option, in addition to the 16.22 million common shares that the underwriters initially agreed to purchase. As of today's date and factoring the common shares issued pursuant to the closing of the offering, Detour Gold has 156,806,791 common shares issued and outstanding.
The company intends to use up to approximately half of the net proceeds of the offering to repay debt and the remainder for sustaining capital requirements, debt servicing costs, and for general corporate purposes and to improve working capital balances.
We seek Safe Harbor.
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