VANCOUVER, July 7, 2014 /PRNewswire/ - Calico Resources Corp. (TSX-V: CKB) (the "Company" or "Calico") is pleased to announce the
closing of the second tranche of its non-brokered private placement
originally announced on March 25, 2014. In this second tranche, the
Company issued 800,000 units at a price of $0.12 per unit. The total
gross proceeds raised in this tranche amount to CDN$96,000.00.
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 $0.15 per share for a period of one year,
expiring July 3, 2015.
All securities issued by the Company in connection with this portion of
the private placement are subject to a statutory hold period and may
not be traded until November 4, 2014.
In its news release of June 19, 2014, the Company announced it had
received the consent of the TSX Venture Exchange to extend until July
15, 2014, the time in which it can close its private placement
financing. The Company therefore anticipates holding a third closing
shortly.
The proceeds of the private placement will be used to pay a royalty
holder and advance the permitting process of Calico's high grade
underground gold deposit, the Grassy Mountain Project, located in south
east Oregon.
On behalf of the Board,
Arden (Buck) Morrow,
President, CEO and Chairman
Cautionary Statement
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