November 16, 2006 16:43 ET

Ditem Announces $1.5 Million Brokered Private Placement

MONTREAL, QUEBEC--(CCNMatthews - Nov. 16, 2006) - Ditem Explorations (TSX VENTURE:DIT) announces a brokered placement of up to 3 million Units (flow through and non-flow through) comprised of one share of Ditem at a price of $0.25 and one-half warrant for non-flow through subscribers. Each full warrant will entitle the holder to purchase one common share of the Corporation at $0.35 until a date that is 24 months after the Closing Date. Approximately half of the financing will be flow through shares and half will be non-flow through. The flow through units will not receive a half warrant. Quebec residents will be entitled to the full Quebec flow-through exemption.

The offering will be made to accredited investors, within the meaning of National Instrument 45-106, residing in the Provinces of British Columbia, Alberta, Ontario, and Quebec, in reliance upon applicable exemptions from registration and prospectus requirements. The closing is expected to occur on or before December 8th, 2006, and is subject to the receipt of all the required regulatory approvals, including the approval of the TSX Venture Exchange. All the securities issued pursuant to the offering shall be subject to a hold period of four months from the date of closing. A finders fee equal to 8% of the gross proceeds, as well as broker warrants equal to 10% of issued units at $0.25, will be payable by the Corporation to Bearbeech Capital Partners Corporation.

The proceeds from the private placement will be used by Ditem for exploration primarily on the Otish Mountain Property in Quebec, the Beartooth Island Project in the Athabasca Basin of Saskatchewan and the Cree Lake Property also in the Athabasca Basin of Saskatchewan, as well as for general working capital.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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