VANCOUVER, April 15, 2013 /PRNewswire/ - Calico Resources Corp. (TSX-V: CKB) (the "Company" or "Calico") is pleased to announce the closing of the second and final tranche of its non-brokered private placement originally announced on March 28, 2013. In this second tranche, the Company issued 2,500,000 units at a price of $0.16 per unit. The total gross proceeds raised in this tranche amount to CDN$400,000.00.
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 12, 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 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.
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