DeeThree Exploration Announces Filing of (Final) Short Form Prospectus for $15 Million Offering
Mar 16, 2012
OTC Disclosure News Service
Calgary, ALB, Canada –
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
DEETHREE EXPLORATION ANNOUNCES FILING OF (FINAL) SHORT FORM PROSPECTUS FOR $15 MILLION OFFERING
March 15, 2012
DeeThree Exploration Ltd. (“DeeThree” or the “Corporation”) (TSX: DTX; OTCQX: DTHRF) is pleased to announce that further to its press releases dated March 2, 2012 and March 8, 2012, it has filed a (final) short form prospectus in connection with a public offering (the “Offering”) of 3,334,000 common shares on a “flow-through” basis (the “Flow-Through Shares”) under the Income Tax Act (Canada) at $4.50 per Flow-Through Share for gross proceeds of $15,003,000. The Offering is led by Dundee Securities Ltd. and includes a syndicate of underwriters consisting of Casimir Capital Ltd., Cormark Securities Inc., Macquarie Capital Markets Canada Ltd., Stifel Nicolaus Canada Inc. and NCP Northland Capital Partners Inc. (collectively, the “Underwriters”). The Corporation has granted the Underwriters a 15% over-allotment option (the “Option”) to purchase, on the same terms, up to an additional 500,100 Flow-Through Shares for additional gross proceeds of up to $2,250,450 if the Option is exercised in full. Closing of the Offering is anticipated to occur on or before March 27, 2012, and is subject to the receipt of applicable regulatory approvals, including approval of the Toronto Stock Exchange.
The (final) short form prospectus containing important information relating to the Offering has been filed with the securities commissions or similar authorities in each province of Canada, except Québec. Copies of the (final) short form prospectus may be obtained from Ms. Gail Hannon, the Chief Financial Officer of the Corporation, at 2200, 520 – 3rd Avenue S.W., Calgary, Alberta T2P 0R3, telephone (403) 263-3361, and is also available electronically at www.sedar.com.
For further information please contact Martin Cheyne, President and Chief Executive Officer of DeeThree by telephone at (403) 263-9130.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained herein constitute forward-looking statements, including statements concerning the anticipated closing date of the Offering. We believe the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon. Closing could be delayed if DeeThree cannot obtain necessary regulatory approvals within anticipated timelines and will not be completed unless certain conditions customary for transactions of this kind are satisfied. The forward-looking statements included in this press release are made as of the date of this press release and DeeThree disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirement. This media release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there by any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
We seek safe harbour.
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