Detour Gold Completes $427.7M Bought Deal Offering

Detour Gold completed a bought deal offering in Canada and the US of 14,375,000 common shares for aggregate gross proceeds of $427.7 million.

The purchased shares included 1,875,000 common shares made available for issuance pursuant to the exercise of an over-allotment option granted to the syndicate of underwriters, which was led by BMO Capital Markets and TD Securities Inc., and which included CIBC World Markets Inc., Raymond James Ltd., RBC Dominion Securities Inc., Canaccord Genu-ity Corp., Credit Suisse Securities (Canada), Inc., Haywood Securities Inc., Macquarie Capital Markets Canada Ltd., Na-tional Bank Financial Inc., UBS Securities Canada Inc., Fraser Mackenzie Limited, NCP Northland Capital Partners Inc. and Paradigm Capital Inc.

The offering was conducted as a prospectus offering in Canada and a private placement in the US.
Detour Gold is a Canadian gold exploration and development company whose focus is advancing the development of its Detour Lake gold project, located in northeastern Ontario.

The company intends to use the net proceeds of the offering to complete the $1.3 billion construction of the project, for working capital and for general corporate purposes. The net proceeds of the offering, together with cash on hand and the company's recently completed Caterpillar equipment financing, are sufficient to finance the Detour Lake gold project through to production. Detour Gold's shares trade on the Toronto Stock Exchange under the symbol “DGC.”

Detour Gold was represented in-house by Julie Galloway, Vice President and General Counsel, and by McMillan LLP with a team that included Hellen Siwanowicz, Andrew Tam and David Mendicino (corporate and Canadian securities); Herb Ono (US securities); Matt German (real estate) and Ryan Morris (tax).

The syndicate of underwriters was represented in Canada by Gowling Lafleur Henderson LLP with a team that in-cluded Robert Mason and Steven Cutler (corporate finance and securities) and David Stevens (tax); and in the US by Dorsey & Whitney LLP, with a team that included Ken Sam and Jason Brenkert.

Lawyer(s)

David Mendicino Matthew German Herbert I. Ono Robert K. Mason David P. Stevens Hellen Siwanowicz Kenneth G. Sam Julie I. Galloway Ryan L. Morris Steven J. Cutler

Firm(s)

McMillan LLP Gowling WLG Dorsey & Whitney LLP Gowling WLG