Exeter Resource Corporation closes $50 million bought deal financing

On October 27, 2010, Exeter Resource Corporation (NYSE-AMEX:XRA, TSX:XRC, Frankfurt:EXB) announced that it had closed its previously announced bought deal equity financing.

The offering was led by Canaccord Genuity Corp. and included TD Securities Inc., BMO Nesbitt Burns Inc. and GMP Securities Inc. The underwriters purchased, on a bought deal basis, pursuant to a short form prospectus, 8,065,000 common shares of the company at a price of $6.20 per share for gross proceeds of $50,003,000.

Exeter intends to use the net proceeds from the offering to advance the company's Caspiche Project and for general working capital.

Fasken Martineau advised Exeter in this transaction with a team that included Iain Mant and Steve Saville (securities) and Frank Schober (tax).