Exeter closes C$50 million equity financing
26 Noviembre 2009 - 8:29AM
PR Newswire (US)
VANCOUVER, Nov. 26 /PRNewswire-FirstCall/ -- Exeter Resource
Corporation (AMEX:XRA, TSX:XRC, Frankfurt:EXB or the "Company") is
pleased to announce that it has closed the C$50 million equity
financing previously announced on November 10, 2009 under which the
Company sold 8,550,000 common shares of the Company (the "Shares")
at a price of C$5.85 per share for gross proceeds of C$50,017,500
(the "Offering") to a syndicate of underwriters pursuant to a short
form prospectus in Canada and a concurrent private placement to
persons within the United States and to, or for the account or
benefit of, U.S. persons (as such terms are defined in Regulation S
under the U.S. Securities Act of 1933, as amended (the "1933 Act"))
that are institutional accredited investors. The underwriters
received a cash fee equal to 5% of the gross proceeds of the
Offering and 256,500 compensation options, each compensation option
exercisable to purchase one Share at a price of C$6.00 for a period
of 12 months following the closing of the Offering. The
underwriters have also been granted an over-allotment option,
exercisable in whole or in part in the sole discretion of the
underwriters at any time prior to the 30th day following the
closing of the Offering, to purchase up to an additional 1,282,500
Shares at a price of C$5.85 per share. The Company intends to use
the net proceeds of the Offering for exploration and development of
its properties in Argentina and Chile and for general corporate
purposes. 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 securities in any state of the United States in which such
offer, solicitation or sale would be unlawful. The securities have
not been registered under 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 such terms are defined in Regulation S under the
1933 Act) absent registration or an applicable exemption from the
registration requirements. 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 the Company's belief as to the extent
and timing of its drilling programs, various studies including
engineering, environmental, infrastructure and other studies, and
exploration results, budgets for its exploration programs, the
potential tonnage, grades and content of deposits, timing,
establishment and extent of resources estimates, potential for
financing its activities, potential production from and viability
of its properties and expected cash reserves. These forward-looking
statements are made as of the date of this news release. Users of
forward-looking statements are cautioned that actual results may
vary from the forward-looking statements contained herein. While
the Company has based these forward-looking statements on its
expectations about future events as at the date that such
statements were prepared, the statements are not a guarantee of the
Company's future performance and are subject to risks,
uncertainties, assumptions and other factors which could cause
actual results to differ materially from future results expressed
or implied by such forward-looking statements. Such factors and
assumptions include, amongst others, the effects of general
economic conditions, the price of gold, silver and copper, changing
foreign exchange rates and actions by government authorities,
uncertainties associated with legal proceedings and negotiations
and misjudgements in the course of preparing forward-looking
information. In addition, there are also known and unknown risk
factors which could cause the Company's actual results, performance
or achievements to differ materially from any future results,
performance or achievements expressed or implied by the
forward-looking statements. Known risk factors include risks
associated with project development; the need for additional
financing; operational risks associated with mining and mineral
processing; fluctuations in metal prices; title matters;
uncertainties and risks related to carrying on business in foreign
countries; environmental liability claims and insurance; reliance
on key personnel; the potential for conflicts of interest among
certain officers, directors or promoters of the Company with
certain other projects; the absence of dividends; currency
fluctuations; competition; dilution; the volatility of the
Company's common share price and volume; tax consequences to U.S.
investors; and other risks and uncertainties, including those
described in the Company's Annual Information Form for the
financial year ended December 31, 2008, dated March 27, 2009 filed
with the Canadian Securities Administrators and available at
http://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. The Company is under no obligation to
update or alter any forward-looking statements except as required
under applicable securities laws. NEITHER THE TSX NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS NEWS RELEASE DATASOURCE: Exeter
Resource Corporation CONTACT: B. Roxburgh, President or Rob Grey,
VP Corporate Communications, Tel: (604) 688-9592, Fax: (604)
688-9532, Toll-free: 1-888-688-9592, Suite 1260, 999 West Hastings
St., Vancouver, BC, Canada, V6C 2W2,
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