VANCOUVER, Sept. 29, 2011 /CNW/ - Calico Resources Corp. (TSXV: CKB)
(the "Company" or "Calico") is pleased to announce the closing of its
non-brokered private placement announced on September 21, 2011. The
Company issued 3,000,000 units at a price of $0.50 per unit. The total
proceeds raised in this placement amount to $1,500,000. Each unit (a
"Unit") consists of one common share and one-half of one share purchase
warrant. Each full warrant ("Warrant") is exercisable into one
additional common share at a price of $0.60 per share for a period of
one year, expiring September 26, 2012.
All securities issued by the Company in connection with the private
placement are subject to a statutory hold period and may not be traded
until January 27, 2012.
The net proceeds from the Offering will be used for exploration,
environmental and permitting activities on the Company's Grassy
Mountain Project and for general working capital.
On behalf of the Board,
William S. Wagener
President and CEO
Cautionary Statement This document contains "forward-looking statements" within the meaning
of applicable Canadian securities regulations. All statements other
than statements of historical fact herein, including, without
limitation, statements regarding exploration plans and other future
plans and objectives, are forward-looking statements that involve
various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and future events and actual
results could differ materially from those anticipated in such
statements. Important factors that could cause actual results to differ
materially from our expectations are disclosed in the Company's
documents filed from time to time via SEDAR with the Canadian
regulatory agencies to whose policies we are bound.
"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
For further information:
For more information please contact: Terri Anne Welyki - Vice-President of Corporate Development - 604-681-6855.