VANCOUVER,
April 11, 2013 /CNW/ - Calico
Resources Corp. (TSX-V: CKB) (the "Company" or "Calico") is pleased
to announce the closing of the first tranche of its non-brokered
private placement originally announced on March 28, 2013. In this first tranche, the
Company issued 2,950,000 units at a price of $0.16 per unit. The total gross proceeds raised
in this tranche amount to CDN$472,000.00.
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
$0.28 per share for a period of two
years, expiring April 9, 2015.
All securities issued by the Company in
connection with this first portion of the private placement are
subject to a statutory hold period and may not be traded until
August 10, 2013.
The second tranche of the financing for the
balance of 2,500,000 Units is scheduled to close by the end of the
week, details of which will be announced once complete.
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.
SOURCE Calico Resources Corporation