Calico Resources arranges $872,000 placement Calico Resources arranges $872,000 placement
2013-03-28 07:58 ET - News Release
Mr. Arden Morrow reports
CALICO ANNOUNCES A $872,000 PRIVATE PLACEMENT FINANCING
Calico Resources Corp. has set up a non-brokered private placement of up to 5.45 million units of the company at a price of 16 cents per unit. Each unit will consist of one common share and one-half of one transferable share purchase 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, at an exercise price of 28 cents per common share. No finders' 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.