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Exeter Resource closes US$57.5 million equity financing

Fasken
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Exeter Resource Corporation

On November 26, 2009, Exeter Resource Corporation (AMEX:XRA, TSX:XRC, Frankfurt:EXB) ("Exeter") announced that it had closed the $50 million equity financing previously announced on November 10, 2009 under which the company sold 8,550,000 common shares of the company at a price of $5.85 per share for gross proceeds of $50,017,500, pursuant to a short form prospectus in Canada and a concurrent private placement within the United States. The transaction was completed by a syndicate of underwriters led by Canaccord Capital Corporation and including TD Securities Inc., BMO Nesbitt Burns Inc., GMP Securities L.P., Salman Partners Inc., Thomas Weisel Partners Canada Inc., and Scotia Capital Inc. On December 4, 2009, Exeter announced that the underwriters had exercised an over-allotment option to purchase additional shares for gross proceeds to the company of $7,502,625 bringing the aggregate gross proceeds of the equity financing to $57,520,125. Exeter intends to use the net proceeds of the offering for exploration and development of its properties in Argentina and Chile and for general corporate purposes.Exeter is a Canadian mineral exploration company focused on the discovery and development of gold and silver properties in South America. Exeter was advised in this transaction by Susan McLeod, Iain Mant and Steve Saville of Fasken Martineau.

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