Calico Announces Completion of Non-Brokered Private Placement Financing, Engagement of Investor Relations Consultant and Grant
13 October 2012 - 8:00AM
PR Newswire (Canada)
VANCOUVER, Oct. 12, 2012 /CNW/ - Calico Resources Corp. (the
"Company" or "Calico") is pleased to announce the closing of its
non-brokered private placement originally announced on September 7,
2012. The Company issued 3,321,000 units at a price of $0.25 per
unit. The total gross proceeds raised in this placement amount to
CDN$830,250.00. Each unit consists of one common share and one-half
of one share purchase warrant. Each whole warrant is exercisable
into one additional common share at a price of $0.40 per share for
a period of two years, expiring October 12, 2014. The Company paid
a cash finder's fee of $36,837.50 in connection with the private
placement to certain parties who were instrumental in introducing
investors to the Company. In addition, The Company issued
147,350 Finders Warrants, exercisable for a period of two years
into one common share at a price of $0.40 per share, expiring
October 12, 2014. All securities issued by the Company in
connection with the private placement are subject to a statutory
hold period and may not be traded until February 13, 2013. 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. In addition, effective October 2, 2012,
Calico has retained San Diego Torrey Hills Capital, Inc. ("Torrey
Hills") to act as investor relations consultants to the Company.
Torrey Hills is a leading investor and financial public relations
firm specializing in small and micro-cap companies, primarily in
the natural resource sector. Torrey Hills will increase awareness
about Calico through its established relationships with investment
professionals, investment advisors, and money managers focused on
the microcap market space. This will allow Calico to build and
maintain an informed investor audience in both the U.S and Canadian
marketplace. Torrey Hills will also develop a profile on Calico for
coverage on its website, www.babybulls.com, a website developed to
showcase and provide exposure for emerging micro-cap companies to
an audience of proven micro-cap investors. The Company also
announces the grant of an aggregate 220,000 incentive stock options
to various consultants, pursuant to its incentive stock option
plan. These options are exercisable for a period of three
years from the date of grant at a price of $0.40 per share Torrey
Hills currently has no direct or indirect interest in the
securities of Calico, or any right or intent to acquire such an
interest except pursuant to the exercise of the above referenced
Options. The appointment of Torrey Hills as an investor
relations consultant of Calico and the granting of the Options
remain subject to regulatory acceptance of applicable filings with
the TSX Venture Exchange. 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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