By Sheri Kasprzak
Atlanta, Nov. 19 - Exeter Resource Corp. said late Thursday it has wrapped a C$1.4 million non-brokered private placement.
The company issued 1.4 million units of one share and one warrant at C$1 per unit.
The warrants in the offering allow for an additional share at C$1.35 for two years.
Directors of the company purchased 1.15 million shares at C$1.05.
The securities involved in the transaction are subject to a four-month, which expires March 19, 2005.
Exeter is a Vancouver, B.C.-based gold-silver and porphyry copper-gold exploration company. The company plans to use the proceeds from the financing to fund exploration and development of properties in Argentina. The proceeds will also be used for working capital.
| Issuer: | Exeter Resource Corp.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1.4 million
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| Shares: | 1.4 million units
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| Price: | C$1
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$1.35
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| Settlement date: | Nov. 18
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| Stock price: | C$1.27 at close Nov. 18
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