Vancouver, B.C. – March 18, 2013: San Marco Resources Inc. (SMN: TSX-V) has completed a private placement with Exeter Resource Corporation (TSX: XRC; NYSE-MKT: XRA; Frankfurt: EXB) of 1,562,500 shares at a price of $0.16 per share for proceeds of $250,000. The shares were issued at a 25% premium to the 20 day VWAP ending February 14th and are subject to restrictions on transfer until July 16, 2013.
The proceeds from the placement represented the initial payments due from Exeter in connection with the options granted to it in March to acquire interests in San Marco’s La Buena and Angeles properties in Mexico (see news release dated March 4, 2013).
For further information, contact:
Rick Peterson
V.P. Corporate Development
604-568-5951
604-868-3164
[email protected]
Robert D. Willis
CEO
604-568-5951
604-813-2606
[email protected]
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.