By Laura Lutz
Des Moines, Sept. 20 - Exeter Resource Corp. arranged a private placement of units for C$9 million.
The company will issue 3.6 million units of one share and one half-share warrant for C$2.50 per unit. Each warrant will be exercisable at C$3.00 for 18 months.
Exeter may accelerate the expiry of the warrants to 30 days if its shares close at or above C$3.25 for 10 consecutive trading days at any time more than four months and one day after settlement.
The deal will be non-brokered.
Proceeds will be used for the company's La Cabeza gold project, exploration on its other properties and working capital.
Vancouver, B.C.-based Exeter focuses on gold and silver properties in Argentina and Chile.
| Issuer: | Exeter Resource Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$9 million
|
| Units: | 3.6 million
|
| Price: | C$2.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$3.00
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 20
|
| Stock symbol: | TSX Venture: XRC
|
| Stock price: | C$2.22 at close on Sept. 19
|
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