Calico Announces a $2,000,000 Private Placement Financing
07 September 2012 - 11:00PM
PR Newswire (Canada)
VANCOUVER, Sept. 7, 2012 /CNW/ - Calico Resources Corp. , (OTCQX:
CVXHF) (Calico or the Company) announces a non-brokered private
placement of up to 8,000,000 units of the Company (the "Units") at
a price of $0.25 per Unit, with an overallotment option of an
additional 15% or 1,200,000 Units. Each Unit will consist of
one common share and one-half of one share purchase warrant
("Warrant"). Each full Warrant will entitle the holder to
purchase one common share of the Company for a period of two years
from the closing date of the financing ("Closing"), at an exercise
price of $0.40 per common share. The Company will pay a finder's
fee in connection with the private placement to certain parties who
are instrumental in introducing investors to the Company and who
qualify to receive such a fee in accordance with securities
legislation and TSX Venture Exchange policies. The finder's
fee shall be equal to 7% of the amount of gross proceeds
raised. In addition, subject to compliance with regulatory
requirements, finders will also be issued Broker Warrants,
exercisable into that number of common shares as is equal to 7% of
the number of Units sold to investors. Each Broker's Warrant shall
be exercisable for a period of two years from Closing into one
common share at a price of $0.40 per share. The private placement
and payment of finder's fees are, subject to receipt of applicable
regulatory approvals including acceptance of the TSX Venture
Exchange. The net proceeds from the Offering will be used for
exploration and development on the Company's Grassy Mountain
Project and for general working capital. On behalf of the Board,
Arden B. Morrow President & CEO Neither TSX Venture Exchange
nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release. Cautionary Statement
This document contains "forward-looking statements" within the
meaning of applicable Canadian securities regulations. All
statements other than statements of historical fact herein,
including, without limitation, statements regarding exploration
plans and other future plans and objectives, are forward-looking
statements that involve various risks and uncertainties.
There can be no assurance that such statements will prove to
be accurate and future events and actual results could differ
materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from our expectations are disclosed in the Company's
documents filed from time to time via SEDAR with the Canadian
regulatory agencies to whose policies we are bound. Calico
Resources Corporation CONTACT: Terri Anne Welyki - Vice-President
of Corporate Development -604-681-6855.
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