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Ditem Explorations Inc.: Brokered Private Placement for $1,000,000
Published : November 20, 2012
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Keywords :   Canada | Gold | Market | Rare Earth |

MONTREAL, QUEBEC--(Marketwire - Nov. 20, 2012) - Ditem (News - Market indicators) is pleased to announce that it has signed an agreement for a brokered, private placement to raise gross proceeds of up to $1,000,000. The placement is composed of flow-through units (the "Flow-Through Units") for gross proceeds of $750,000 and cash units (the "Cash Units") for gross proceeds of $250,000. The agent is MGI Securities ("MGI") and the financing is subject to regulatory approval.

Each Flow-Through Unit offered at $0.05 shall consist of 1 Flow-Through common share and 1 common share purchase warrant. Each warrant entitles its holder to purchase one additional common share at a price of $0.10 for a period of 24 months from the Closing Date. Each Cash Unit offered at $0.05 will be comprised of 1 common share and 1 common share purchase warrant. Each warrant entitles its holder to purchase 1 additional common share at a price of $0.07 for a period of 12 months from the Closing Date and at a price of $0.10 for the following 12 months. There will be a hold period of 4 months on all securities issued.

MGI shall receive a cash commission equal to 10% of the gross proceeds and shall be granted warrants by the Corporation to acquire that number of Common Shares equal to 10% of the aggregate number of Flow-Through Units and Cash Units sold under the Offering (the "Agent's Warrants"), exercisable at a price of $0.10 per Agent's Warrant for a period of 24 months from the Closing Date. 

This Financing will be sold on a private placement basis pursuant to the "accredited investor" exemption under National Instrument 45-106 and certain other available and agreed upon exemptions. The selling jurisdictions for the Offering will be the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Québec, and such other provinces of Canada or other jurisdictions as agreed upon.

Ditem intends to use the proceeds of the Flow Through Units for exploration work on Ditem properties, namely the properties in the Detour Gold Trend, the Bruell gold property near Val-d'Or and on the Lalande rare earth property near La Romaine. Cash Units will be used for acquisitions and general administrative purposes.

Ditem is an exploration and development company with properties in Quebec situated in the Detour Gold Trend, the Bruell property in the Val-d'Or area, and the Lalande property on the North Shore near La Romaine and in the Otish Basin and, in Saskatchewan, in the Athabasca Basin. Properties and general information may be viewed on the Company's website at www.ditem.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Ditem Explorations Inc.
Raymond Savoie
514-875-9034
rs@ditem.com
or
MGI Securities Inc.
Paul Bernard
514.570.7285
pbernard@mgisecurities.com
Companies Mentionned : Athabasca | Detour Gold |
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Ditem Explorations Inc.

EXPLORATION STAGE
CODE : DIT.V
ISIN : CA2549201010
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Ditem Expl. is based in Canada.

Ditem Expl. holds various exploration projects in Canada.

Its main exploration properties are BEARTOOTH ISLAND, TEMISCAMING, BEAVER LAKE (OTISH) and CREE LAKE in Canada.

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Annual reports of Ditem Explorations Inc.
2007 Annual report
2006 Annual report
Financings of Ditem Explorations Inc.
11/20/2012Brokered Private Placement for $1,000,000
Nominations of Ditem Explorations Inc.
5/9/2013By-Law 2013-1, Advance Notice Provision for the Election of ...
Corporate news of Ditem Explorations Inc.
5/5/2015IIROC Trading Halt - NCR; DIT
10/22/2014IIROC Trading Resumption - DIT
9/16/2014IIROC Trading Halt - DIT
7/3/2013Results of the 2013 Annual Shareholders Meeting
12/20/2012Sale of 2% NSR for $1Million
9/25/2012CORRECTION FROM SOURCE/Ditem Signs LOI for Abitibi's Bruell ...
9/25/2012Signs LOI for Abitibi's Bruell Gold Property
9/6/2012Acquires 3 Properties in the Detour Gold Trend
4/12/2011Rare Earth Property Obtained
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