Feb. 25, 2011 (TheNewswire.ca) --
Montreal, February 25, 2011 - Caldera Resources Inc. (TSXV:CDR) (OOTC:CAEFF) (tsx-v: CDR)("Caldera" or the "Corporation"), announces that it has closed its previously announced non-brokered private placement financing consisting of 7,500,000 units (the "Units") at a price of
.14 per Unit to qualified investors. The gross proceeds raised from the financing total $1,050,000. This is the second and final tranche of the private placement financing, representing 2,250,000 Units for total gross proceeds of $315,000.
The Units consists of one (1) common share and one (1) share purchase warrant, providing the holder with the right to purchase 1 additional share for
.20 per Share. The Warrants expire in 24 months from the closing and are subject to an "Acceleration Right" in favour of the Corporation. Should the Shares of the Company close at
.30 or higher for 5 consecutive days, the expiry of the Warrants will accelerate and expiry will be 20 days from issuance of a news release by the Corporation announcing the trigger of the acceleration right.
With the maximum placement now completed, the Corporation now has 56,643,369 shares outstanding. All Shares issued under this placement are subject to a 4 month hold.
The capital raised will be used towards the Corporation's 10,000 meter drilling program on the Marjan Gold and Silver project, located in Armenia. Funds will also be used for general working capital for the Corporation's operations in Montreal, Toronto and Yerevan, Armenia.