By Devika Patel
Knoxville, Tenn., Jan. 8 - Exeter Resource Corp. said it completed a private placement of special warrants, raising C$35.01 million. The deal priced for C$25 million on March 5.
The company sold 7.78 million warrants at C$4.50 apiece.
Each special warrant is initially exercisable for one common share of the company.
Exeter said it agreed to use its best efforts to file a prospectus qualifying the common shares in certain Canadian provinces. If a receipt for the prospectus has not been obtained 41 days after closing, each special warrant will be convertible into 1.1 common shares.
Canaccord Capital Corp. and BMO Capital Markets were the lead underwriters.
Exeter is a mineral exploration company based in Vancouver, B.C.
| Issuer: | Exeter Resource Corp.
|
| Issue: | Special warrants exchangeable for one common share
|
| Amount: | C$35.01 million
|
| Warrants: | 7.78 million
|
| Price: | C$4.50
|
| Underwriters: | Canaccord Capital Corp. (lead); BMO Capital Markets (lead)
|
| Pricing date: | March 5
|
| Settlement date: | March 26
|
| Stock symbol: | TSX Venture: XRC
|
| Stock price: | C$4.88 at close March 5
|
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