VANCOUVER,
Oct. 16, 2013 /CNW/ - Calico
Resources Corp. (TSX-V: CKB) (OTCQX: CVXHF) ("Calico" or "the
Company") announces that it has received funds from the exercise of
1,170,500 of the 1,500,000 share purchase warrants issued in its
private placement which closed September 26,
2011, representing 78 percent of the warrants being
exercised. The Company had received TSX Venture Exchange
acceptance to amending the exercise price of these warrants from
$0.60 to $0.12 per warrant. The
Company has decided not to re-price future warrants and will seek
alternative financing to continue the permitting process at the
Grassy Mountain Project.
"I would like to thank all those that exercised
their warrants for trusting in the Company management and the
future of the Grassy Mountain Project. The continued support
by our investors is important to the success of the Company and the
permitting process." stated Buck
Morrow, Chairman of Calico.
In its news release of May 22, 2013, Calico announced it proposed to
amend the exercise prices of an additional two series of share
purchase warrants to $0.12 per share:
The Company has now decided not to proceed with the applications to
re-price these warrants.
- Warrants to purchase up to 2,827,500 common shares, issued in
connection with a brokered private placement completed April 26, 2012, with an exercise price of
$0.50 per share, exercisable until
April 25, 2014; and
- Warrants to purchase up to 1,660,500 common shares, issued in
connection with a non-brokered private placement completed
October 12, 2012, with an exercise
price of $0.40 per share, exercisable
until October 12, 2014.
ON BEHALF OF THE BOARD
CALICO RESOURCES CORP.
Per: Buck
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