Deal funds exploration; National Bank Financial is lead underwriter
By Devika Patel
Knoxville, Tenn., Dec. 13 - Detour Gold Corp. said it will conduct a C$10.01 million private placement of stock via a syndicate of underwriters led by National Bank Financial Inc.
The company will sell 284,000 flow-through common shares at C$35.25 per share on a best-efforts basis. The price per share reflects a 26.94% premium to the Dec. 12 closing share price of C$27.77. Insiders are expected to participate.
Settlement is expected Dec. 29.
Proceeds will be used for exploration activities on the company's large land position at Detour Lake.
The gold exploration and development company is based in Toronto.
| Issuer: | Detour Gold Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$10,011,000
|
| Shares: | 284,000
|
| Price: | C$35.25
|
| Warrants: | No
|
| Agent: | National Bank Financial Inc. (lead)
|
| Pricing date: | Dec. 13
|
| Settlement date: | Dec. 29
|
| Stock symbol: | Toronto: DGC
|
| Stock price: | C$27.77 at close Dec. 12
|
| Market capitalization: | C$2.68 billion
|
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