Vancouver, BC / ACCESSWIRE / July 25, 2014: Calico Resources Corp. (TSX-V: CKB) (the "Company" or "Calico") is pleased to announce the closing of the third and final tranche of its non-brokered private placement originally announced on March 25, 2014, raising aggregate gross proceeds of $993,000.00. In this tranche, the Company issued 5,033,334 units at a price of $0.12 per unit. The total proceeds raised in this tranche amount to CDN$604,000.00.
2,533,334 of the units issued in this tranche are subject to a statutory hold period and may not be traded until November 18, 2014 and 2,500,000 of these units may not be traded until November 26, 2014.
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. 1,266,667 of these warrants expire July 17, 2015 and 1,250,000 of these warrants expire July 25, 2015.
The proceeds of the private placement will be used to repay a loan to the Company to 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
For more information please see our website: www.calicoresources.com or telephone 604 681-6855.
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.