By Laura Lutz
Washington, Nov. 28 - Ditem Explorations Inc. upsized its previously announced private placement of shares to C$1.75 million from C$1.5 million.
The deal now includes about 3.5 million flow-through shares at C$0.25 per share and about 3.5 million non flow-through units of one non flow-through share and one half-share warrant at C$0.25 per unit.
The deal priced on Nov. 16 as an offering of about 3 million flow-through shares and 3 million units.
Each whole warrant will be exercisable for one non flow-through share at C$0.35 for two years.
The offering will be made to accredited Canadian investors.
Settlement is expected on Dec. 8.
Proceeds will be used for exploration on the company's properties and for working capital.
Ditem is a mineral exploration company based in Montreal.
Issuer: | Ditem Explorations Inc.
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Issue: | Flow-through shares and units of one non flow-through share and one half-share warrant
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Amount: | C$1.75 million
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Pricing date: | Nov. 16
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Amended: | Nov. 28
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Settlement date: | Dec. 8
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Stock symbol: | TSX Venture: DIT
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Stock price: | C$0.43 at close Nov. 28
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Flow-through shares
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Shares: | 3.5 million
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Price: | C$0.25
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Warrants: | No
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Units
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Units: | 3.5 million
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Price: | C$0.25
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.35
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