Ditem Explorations : $578,000 Flow-Through Private Placement
April 01 2011 - 2:38PM
Marketwired
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.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Ditem Explorations David Vincent Director, Investor
Relations 514-875-9034 david.vincent@ditem.com www.ditem.com
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