Vancouver, BC - February 6,
2009 - Exeter Resource Corporation (TSXV:XRC, NYSE Alternext:XRA, Frankfurt:
EXB) (the "Company")
announced today that it has entered into an agreement with a syndicate of
underwriters to sell an aggregate of 10,500,000 common shares of the Company
at a price of Cdn.$2.40 for gross proceeds of Cdn.$25,200,000 on a bought
deal basis in Canada and a concurrent private placement in the United States
to institutional accredited investors (the "Offering").
The Company will grant the underwriters an option (the "Over-Allotment Option
") to purchase up to an additional 1,575,000 Common Shares at a price of
Cdn.$2.40 per Common Share to cover over-allotments. The Over-Allotment
Option shall be exercisable by the Underwriters, in whole or in part, any
time up to 30 days following the closing of the Offering.
The Company intends to use
the net proceeds of the Offering for exploration and development of the
Company's properties in Argentina and Chile and for general corporate
purposes.
The Offering is expected to
close on or about February 26, 2009.
The Common Shares have not
been and will not be registered under the U.S. Securities Act of 1933 (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 defined in Regulation S under the 1933 Act)
absent registration or an applicable exemption from registration
requirements. 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 Common
Shares in any jurisdiction in which such offer, solicitation or sale would be
unlawful.
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.
You are invited to visit
the Exeter web site at www.exeterresource.com.
EXETER
RESOURCE CORPORATION
Bryce
Roxburgh
President and CEO
For further information, please 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 V6C2W2
exeter@exeterresource.com
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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
statement related to the Offering, Over-Allotment Option, use of proceeds and
closing date. Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results to vary
from any future results expressed or implied by the forward-looking
statements. Factors that could cause actual results to differ materially from
the forward-looking statements include, among others, risks associated with
the timing of the financing, pricing; fluctuations in metal prices; currency
fluctuations; dilution; the volatility of the Company's common share price
and volume; and tax consequences to U.S. investors; and other risks and
uncertainties, including those described in the Company's Annual Report on
Form 40-F for the financial year ended December 31, 2007, dated March 31,
2008 filed with the Canadian Securities Administrators and available at 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. All statements are made as of the
date of this news release and the Company is under no obligation to update or
alter any forward-looking statements except as required under applicable securities
laws.
THE
TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THIS NEWS RELEASE