DeeThree Exploration Ltd. (Toronto Venture: DTX) has entered into an agreement to purchase 2,730,000 common shares of the company at a price of $5.50 per share and 770,000 shares of the company issued on a "flow-through" basis at a price of $6.50 per share for aggregate gross proceeds of $20,020,000.
The underwriters were co-led by Macquarie Capital Markets Canada Ltd., Cormark Securities Inc. and Dundee Securities Ltd., and including Casimir Capital Ltd., Stifel Nicolaus Canada Inc. and Raymond James Ltd.,
The gross proceeds from the common shares will be used to fund ongoing capital expenditures and for general corporate purposes. The gross proceeds from the flow-through shares will be used for Canadian exploration expenses.
Closing of the offering is anticipated to occur on or about Oct. 18, 2012.
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