Ditem Explorations : $578,000 Flow-Through Private Placement
01 Aprile 2011 - 9:38PM
Marketwired Canada
Ditem Explorations (TSX VENTURE:DIT) is pleased to announce that it has closed a
brokered flow-through private placement for an amount of $578,000 through the
sale of 7,225,000 flow-through units at $0.08 each to Mineral Fields Group, CGE
Resources Quebec 2011 ACC and two accredited investors. Each unit consists of
one flow-through common share of Ditem and half of one share purchase warrant,
with each whole warrant entitling the holder to purchase one common share of
Ditem at a price of $0.11 per share for a period of twelve months from the date
of closing.
All securities issued pursuant to the offering will be subject to a hold period
of four months from the date of closing. A commission equal to 8% of the gross
proceeds in cash, as well as broker warrants equal to 7% of the number of shares
issued under the offering, at a price of $0.11 per share, was paid to Industrial
Alliance Securities by Ditem Explorations.
The gross proceeds from the private placement will be used by Ditem Explorations
for admissible flow-through exploration expenses in the company's properties in
Quebec.
Ditem Explorations is an exploration and development company with properties in
the Athabasca Basin in Saskatchewan (Beartooth Island and Cree Lake) and the
Otish Basin (Otish Uranium) in Quebec. The Company has also recently acquired a
rare earth property on which it plans to begin exploration work shortly.
Properties and general information may be viewed on the Company's website at
www.ditem.com.
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