Detour Gold Completes $176M Bought Deal Offering

Detour Gold completed a bought deal offering in Canada and in the US of 20,125,000 common shares at a price of $8.75 per common share for aggregate gross proceeds of $176,093,750. The purchased shares included 2,625,000 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 which included RBC Dominion Securities Inc., CIBC World Markets Inc., TD Securities Inc., Credit Suisse Securities (Canada), Inc., National Bank Financial Inc., Raymond James Ltd., Canaccord Genuity Corp., Macquarie Capital Markets Canada Ltd., Merrill Lynch Canada Inc., Scotia Capital Inc. and Haywood Securities Inc. The offering was conducted as a prospectus offering in Canada and a private placement in the US.

Detour Gold was represented in-house by Julie Galloway, senior vice president, general counsel and corporate secretary, and by McMillan LLP with a team that included Hellen Siwanowicz, David Mendicino and Craig Manuel (corporate and Canadian securities); and Herb Ono (US securities), Matt German (real estate) and Ryan Morris (tax). Troutman Sanders LLP provided US tax advice to Detour Gold with a team including Tom Rose and Mark Goldsmith.

The syndicate of underwriters was represented in Canada by Norton Rose Fulbright Canada LLP with a team that included Robert Mason, Janet Howard, Jennifer Armstrong and Elizabeth Cai (corporate finance and securities) and Barry Segal (tax); and in the US by Dorsey & Whitney LLP with a team that included Ken Sam and Jodie Kaufman.