/NOT INTENDED FOR DISSEMINATION TO THE UNITED STATES/
VANCOUVER, April 26, 2012 /CNW/ - Calico Resources Corp. (TSX-V: CKB) (the "Company" or "Calico") is pleased to announce the closing of its private placement announced on March 26, 2012. The Company issued 5,380,000 units at $0.34 per unit in the brokered portion of the financing to raise gross proceeds of $1,829,200.00 and an additional 275,000 units at $0.34 per unit in a non-brokered portion of the financing to raise gross proceeds of an additional $93,500.00.
The total gross proceeds raised in this placement amount to $1,922,700. Each unit consists of one common share and one-half of one share purchase warrant. Each full warrant is exercisable into one additional common share at a price of $0.50 per share for a period of two years, expiring April 25, 2014.
All securities issued by the Company in connection with the private placement are subject to a four month hold period expiring August 27, 2012. In addition, securities issued to United States residents are also subject to resale restrictions under the securities laws of the United States.
Stonecap Securities Inc. acted as lead agent in connection with the brokered portion of the private placement and was paid commission equal to 7% of the gross proceeds raised in the brokered portion of the financing. No commission was paid on the non-brokered portion of the private placement.
The net proceeds of the Offering will be used for exploration and development at the Company's Grassy Mountain project, working capital and general corporate purposes. The Company's Grassy Mountain Project, was optioned from Seabridge Gold Inc. and is located in Malheur County, Oregon, approximately 70 miles west of Boise, Idaho and 22 miles south of Vale, Oregon and for general working capital.
On behalf of the Board,
William S. Wagener
President and CEO
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."
For further information:
Terri Anne Welyki - Vice-President of Corporate Development - 604-681-6855.