Vancouver,
B. C., February 26, 2009 - Exeter Resource Corporation (TSX-V:XRC, NYSE
Alternext US: XRA, Frankfurt: EXB - "Exeter" or the
"Company") is pleased to announce that it has
closed the bought deal equity financing, including the full amount of the
underwriters' over-allotment option, for aggregate gross proceeds to Exeter
of C$28,980,000. A syndicate of underwriters purchased an aggregate of 12,075,000
common shares at a price of C$2.40 per common share.
In connection with the
offering, the Company paid to the underwriters a 6.5% cash commission and
issued 784,875 non-transferable compensation options entitling the holder to
purchase one common share at a price of C$2.40 for a period of 12 months.
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 common shares will not
be and have not been registered under the United States Securities Act of
1933, as amended, and may not be offered or sold in the United States absent
registration or applicable exemption from the 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.
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
|
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. These
forward-looking statements are made as of the date of this news release.
Users of forward-looking statements are cautioned that actual results may
vary from the forward-looking statements contained herein. Forward-looking
statements include, but are not limited to, the Company's belief as to the
extent and timing of its drilling programs and exploration results, the
potential tonnage and grades of deposits, timing and establishment of
resources estimates, potential for financing its activities, potential
production from its properties and expected cash reserves. In certain cases,
forward-looking statements can be identified by the use of words such as
"plans", "expects" or "does not expect",
"is expected", "budget", "scheduled",
"estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or statements
that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be
achieved". While the Company has based this forward-looking
information on its expectations about future events as at the date that such
information was prepared, the information is not a guarantee of the Company's
future performance and is subject to risks, uncertainties, assumptions and
other factors which could cause actual results to differ materially from
future results expressed or implied by such forward looking information.
Such factors and assumptions include, amongst others, the effects of
general economic conditions, changing foreign exchange rates and actions by
government authorities, uncertainties associated with legal proceedings and
negotiations and misjudgements in the course of preparing forward-looking
information. In addition, there are also known and unknown risk factors which
could cause the Company's actual results, performance or achievements to
differ materially from any future results, performance or achievements
expressed or implied by the forward-looking statements. Known risk factors
include, among others, risks associated with project development; the need
for additional financing; operational risks associated with mining and
mineral processing; fluctuations in metal prices; title matters;
uncertainties and risks related to carrying on business in foreign countries;
environmental liability claims and insurance; reliance on key personnel; the
potential for conflicts of interest among certain officers, directors or
promoters of the Company with certain other projects; the absence of
dividends; currency fluctuations; competition; dilution; the volatility of
the Company's common share price and volume; and tax consequences to U.S.
investors, as well as those factors discussed in the Company's Annual
Information Form for the financial year ended December 31, 2007, dated March
28, 2008 filed with the Canadian Securities Administrators and available at www.sedar.com. Subject to applicable
securities laws, the Company undertakes no obligation to publicly update or
revise any forward-looking information, whether as a result of new
information, future events or otherwise. There can be no assurance that
forward-looking statements, or the material factors or assumptions used to
develop such forward-looking statements, will prove to be accurate.
Accordingly, readers should not place undue reliance on forward-looking
statements.
THE
TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THIS NEWS RELEASE