MONTREAL, Jan. 4 /CNW Telbec/ - Caldera Resources Inc. (the "Corporation") announced today that it has closed its non-brokered private placement, which was announced on December 21, 2009.
In addition to the first tranche closing of $225,000 announced on December 24, 2009, the Corporation issued an additional 817 Subscription Receipts (the "Receipts") for gross proceeds of $91,912. In total the Corporation has issued 2,817 Receipts for total gross proceeds of $316,912.
Of the 817 Receipts issued in this second tranche, one insider acquired 625 Receipts, for a total investment of $70,312.50.
The 817 Receipts issued in this second and final tranche will be converted to 817,000 common shares (the "Shares") at $0.1125 per Share and 817,000 common share purchase warrants (the "Warrants") on a post-consolidated basis. Each Warrant entitles the holder thereof to acquire one additional Share at a price of $0.15 for 24 months from issuance. The Receipts will be converted automatically to the underlying Shares and Warrants as soon as the consolidation of the shares of the Corporation is complete. There will be a four (4) month hold on all Shares from the date of issuance.
The 2,817 Receipts issued in this Private Placement will be converted to 2,817,000 Shares and 2,817,000 Warrants, on a post-consolidated basis.
The common shares of the Corporation will be consolidated on a 1 for 10 basis, as approved by the shareholders on December 23, 2009. Upon completion of the consolidation of the shares, and taking effect of this financing, the Corporation will have a total of 17,827,269 shares issued and outstanding. The consolidation is expected to be completed this week.
The proceeds from the financing will be used for general working capital. Completion of the private placement is subject to final approval by the TSX Venture Exchange.
The Company's main business is the acquisition, exploration and development of natural resource properties with a focus on sulphide projects that are amenable to BacTech's BACOX bioleaching technology. The Company is seeking to acquire and develop the Lichkvaz-Tey gold property, located in the Republic of Armenia. The project is currently owned by the Armenian government.
The company has also entered into a letter agreement to form a Joint Venture whereby Caldera shall, subject to terms and conditions, earn a 55% interest in the Marjan Gold-Silver-Polymetallic Project after completing a bankable feasibility study on the project or spending US$3.0M on the property.
THIS NEWS RELEASE INCLUDES CERTAIN "FORWARD-LOOKING STATEMENTS". ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACT, INCLUDED IN THIS RELEASE INCLUDING FUTURE PLANS AND OBJECTIVES OF CALDERA, ARE FORWARD-LOOKING STATEMENTS THAT INVOLVE VARIOUS RISKS AND UNCERTAINTIES. THERE CAN BE NO ASSURANCE THAT SUCH STATEMENTS WILL PROVE TO BE ACCURATE AND ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SUCH STATEMENTS NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.
Additional information related to the Company is filed electronically on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
SOURCE CALDERA RESOURCES INC.
For further information: For further information: Bill Mavridis, President & CEO, Caldera Resources Inc., (514) 813-9200, firstname.lastname@example.org