Exeter Resource Corporation Announces Bought Deal Equity Financing
February 06 2009 - 8:01AM
Marketwired
Exeter Resource Corporation (TSX VENTURE: XRC)(NYSE Alternext US:
XRA)(FRANKFURT: EXB) (the "Company") announced today that it has
entered into an agreement with a syndicate of underwriters to sell
an aggregate of 10,500,000 common shares of the Company at a price
of Cdn.$2.40 for gross proceeds of Cdn.$25,200,000 on a bought deal
basis in Canada and a concurrent private placement in the United
States to institutional accredited investors (the "Offering"). The
Company will grant the underwriters an option (the "Over-Allotment
Option") to purchase up to an additional 1,575,000 Common Shares at
a price of Cdn.$2.40 per Common Share to cover over-allotments. The
Over-Allotment Option shall be exercisable by the Underwriters, in
whole or in part, any time up to 30 days following the closing of
the Offering.
The Company intends to use the net proceeds of the Offering for
exploration and development of the Company's properties in
Argentina and Chile and for general corporate purposes.
The Offering is expected to close on or about February 26,
2009.
The Common Shares have not been and will not be registered under
the U.S. Securities Act of 1933 (the "1933 Act") and may not be
offered or sold in the United States or to, or for the account or
benefit of, U.S. persons (as defined in Regulation S under the 1933
Act) absent registration or an applicable exemption from
registration requirements. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the Common Shares in any jurisdiction in which
such offer, solicitation or sale would be unlawful.
About Exeter
Exeter Resource Corporation is a Canadian mineral exploration
company focused on the discovery and development of gold and silver
properties in South America.
EXETER RESOURCE CORPORATION
Bryce Roxburgh, President and CEO
Safe Harbour Statement - This news release contains
"forward-looking information" and "forward-looking statements"
(together, the "forward-looking statements") within the meaning of
applicable securities laws and the United States Private Securities
Litigation Reform Act of 1995, including statement related to the
Offering, Over-Allotment Option, use of proceeds and closing date.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results
to vary from any future results expressed or implied by the
forward-looking statements. Factors that could cause actual results
to differ materially from the forward-looking statements include,
among others, risks associated with the timing of the financing,
pricing; fluctuations in metal prices; currency fluctuations;
dilution; the volatility of the Company's common share price and
volume; and tax consequences to U.S. investors; and other risks and
uncertainties, including those described in the Company's Annual
Report on Form 40-F for the financial year ended December 31, 2007,
dated March 31, 2008 filed with the Canadian Securities
Administrators and available at www.sedar.com.
Although the Company has attempted to identify important factors
that could cause actual actions, events or results to differ
materially from those described in forward-looking statements,
there may be other factors that cause actions, events or results
not to be as anticipated, estimated or intended. There can be no
assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. All statements are made as of the date of this news
release and the Company is under no obligation to update or alter
any forward-looking statements except as required under applicable
securities laws.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this news release.
Contacts: Exeter Resource Corporation B. Roxburgh President
(604) 688-9592 or Toll Free: 1-888-688-9592 Exeter Resource
Corporation Rob Grey VP Corporate Communications (604) 688-9592 or
Toll Free: 1-888-688-9592 (604) 688-9532 (FAX) Email:
exeter@exeterresource.com Website: www.exeterresource.com
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