VANCOUVER,
March 28, 2013 /CNW/ - Calico
Resources Corp. (TSX-V: CKB, OTCQX: CVXHF) ("Calico" or "the
Company") announces a non-brokered private placement of up to
5,450,000 units of the Company (the "Units") at a price of
$0.16 per Unit. Each Unit will
consist of one common share and one-half of one transferable share
purchase warrant ("Warrant"). Each full Warrant will entitle
the holder to purchase one additional common share of the Company
for a period of two years from the closing date of the financing
("Closing"), at an exercise price of $0.28 per common share. No finder's fees or
commissions will be payable in respect of this financing.
The private placement is 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.
SOURCE Calico Resources Corporation