New York, Oct. 6 - Exeter Resource Corp. said it has agreed a C$1.25 million private placement of units.
The company will issue 0.5 million units of one share and one half-share warrant at 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 and is on the same terms as and in addition to the C$9 million placement that closed earlier in the week.
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.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.25 million
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| Units: | 0.5 million
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| Price: | C$2.50
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$3.00
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| Agent: | Non-brokered
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| Pricing date: | Oct. 6
|
| Stock symbol: | TSX Venture: XRC
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| Stock price: | C$2.37 at close on Oct. 6
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