Ditem Closes $312,000 Flow-Through Private Placement
MONTREAL, QUEBEC -- (Marketwire) -- 12/20/10 -- Ditem Explorations (TSX VENTURE: DIT) is pleased to announce that it has closed a non-brokered flow-through private placement for an amount of $312,000 through the sale of 2,400,000 flow-through common shares at $0.13 each to CGE Resources 2010 L.P.. There are no warrants attached to the financing.
All securities issued pursuant to the offering shall be subject to a hold period of four months from the date of closing. A finder fee equal to 8% of the gross proceeds was paid in cash to Industrial Alliance Securities by Ditem Explorations.
The gross proceeds from the private placement will be used by Ditem Explorations for admissible flow-through exploration expenses on the company's properties in Quebec.
Ditem Explorations is a uranium exploration and development company with properties in the Athabasca Basin in Saskatchewan (Beartooth Island and Cree Lake properties) and the Otish Basin (Otish Uranium property) in Quebec. 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.
Contacts:
Ditem Explorations Inc.
David Vincent
Director, Investor Relations
514-875-9034
david.vincent@ditem.com
www.ditem.com