Calico Announces a $2,000,000 Private Placement Financing

VANCOUVER, Sept. 7, 2012 /CNW/ - Calico Resources Corp. (TSXV: CKB), (OTCQX: CVXHF) (Calico or the Company) announces a non-brokered private placement of up to 8,000,000 units of the Company (the "Units") at a price of $0.25 per Unit, with an overallotment option of an additional 15% or 1,200,000 Units.  Each Unit will consist of one common share and one-half of one share purchase warrant ("Warrant").  Each full Warrant will entitle the holder to purchase one common share of the Company for a period of two years from the closing date of the financing ("Closing"), at an exercise price of $0.40 per common share.

The Company will pay a finder's fee in connection with the private placement to certain parties who are instrumental in introducing investors to the Company and who qualify to receive such a fee in accordance with securities legislation and TSX Venture Exchange policies.  The finder's fee shall be equal to 7% of the amount of gross proceeds raised.  In addition, subject to compliance with regulatory requirements, finders will also be issued Broker Warrants, exercisable into that number of common shares as is equal to 7% of the number of Units sold to investors. Each Broker's Warrant shall be exercisable for a period of two years from Closing into one common share at a price of $0.40 per share.

The private placement and payment of finder's fees are, 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.

On behalf of the Board,

Arden B. Morrow
President & CEO

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.

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.

SOURCE: Calico Resources Corporation

For further information:

Terri Anne Welyki - Vice-President of Corporate Development - 604-681-6855.

Profil de l'entreprise

Calico Resources Corporation

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