Detour Gold Completes $282M Bought Deal Financing

On July 19, 2010, Detour Gold Corporation completed a bought deal public offering of common shares. In addition to the 10,500,000 common shares the underwriters initially agreed to purchase, the underwriters, led by BMO Capital Markets, TD Securities Inc. and RBC Capital Markets, purchased 1,250,000 of the 1,575,000 common shares available for issuance pursuant to the exercise of their over-allotment option. In total, 11,750,000 common shares were issued for aggregate gross proceeds of $282 million.

Lang Michener LLP represented Detour Gold with a team that included Hellen Siwanowicz and David Mendicino (corporate and Canadian securities); Mike Taylor and Herbert Ono (US securities); Matthew German (real estate) and Paul Carenza (tax).

The syndicate of underwriters was represented by Fasken Martineau DuMoulin LLP, with a team that included Robert Mason, Amanda Fullerton and Michael Shour (corporate and Canadian securities) and Mitchell Thaw (tax), and by Dorsey & Whitney LLP, who acted as US counsel, with a team that included John Hollinrake, Kenneth Sam and Jason Brenkert.