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Exeter Resource plans to split itself into two separate companies

Published on January 19, 2010; Published on February 25, 2010
The Canadian Press ~ The News

Topics :: Exeter Resource , TSX , Argentina , VANCOUVER , Chile

VANCOUVER - Exeter Resource Corp. (TSX:XRC) plans to split itself into two mining companies.
Vancouver-based Exeter will spin off its Cerro Moro and other exploration properties in Argentina as well as $25 million in working capital.
Exeter's mine development manager for Argentina, Eric Roth, will be appointed president and chief executive of the new company, which is to be publicly listed.
Exeter will retain the Caspiche gold-copper discovery in Chile and $50 million in working capital.
Stock holders would receive one share of the new company for each share they have in Exeter. They'll also keep their Exeter shares.
A vote on the proposal announced Tuesday is expected to be held on March 4.

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