Ditem Explorations: Second and Final Closing for a Total of $820,000
December 18 2009 - 3:33PM
Marketwired
Ditem Explorations (TSX VENTURE: DIT)(FRANKFURT: D8X) is pleased to
announce that it has closed the final tranche of the $820,000
brokered flow-through private placement for an amount of $250,000
equal to 3,125,000 Units. This second tranche follows the initial
closing of $570,000 announced on Tuesday the 15th of December.
The entire private placement ("the Offering") consists of
10,250,000 Flow-Through Units ("Flow-Through Unit") at a price of
$0.08 per Flow-Through Unit. Each Flow-Through Unit consists of one
flow-through common share and one-half of one share purchase
warrant, with each whole warrant entitling the holder to purchase
one common share of Ditem at a price of $0.135 per share for a
period of twelve months from the date of closing.
All securities issued pursuant to the Offering shall be subject
to a hold period of four months from the date of closing. For this
second and final tranche, a commission equal to 9% of the gross
proceeds, as well as compensation options entitling the holders to
subscribe for such number of units equal to 5% of the number of
shares issued under the offering, at a price of $0.08 per share,
was paid by Ditem Explorations to the agent, Industrial
Alliance.
The proceeds from this second and final tranche of Flow-Through
Shares will be used to finance admissible exploration work in
Quebec.
Ditem Explorations is a uranium exploration and development
Company with properties in the Athabasca Basin in Saskatchewan
(Beartooth Island and Cree Lake) and the Otish Basin (Otish
Uranium) in Quebec. The Company has also completed drilling
programs on the Beartooth Island and Otish Uranium properties.
Other exploration programs are also being developed. Existing
properties and general information may be viewed on the Company's
website at www.ditem.com which will be updated shortly.
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.
Contacts: Ditem Explorations David Vincent Director, Investor
Relations 514-875-9034 david.vincent@ditem.com www.ditem.com