VANCOUVER,
July 7, 2014 /CNW/ - Calico
Resources Corp. (TSX-V: CKB) (the "Company" or "Calico") is
pleased to announce the closing of the second tranche of its
non-brokered private placement originally announced on March 25, 2014. In this second tranche, the
Company issued 800,000 units at a price of $0.12 per unit. The total gross proceeds raised
in this tranche amount to CDN$96,000.00.
Each unit consists of one common share and
one-half of one share purchase warrant. Each whole warrant is
exercisable into one additional common share at a price of
$0.15 per share for a period of one
year, expiring July 3, 2015.
All securities issued by the Company in
connection with this portion of the private placement are subject
to a statutory hold period and may not be traded until November 4, 2014.
In its news release of June 19, 2014, the Company announced it had
received the consent of the TSX Venture Exchange to extend until
July 15, 2014, the time in which it
can close its private placement financing. The Company
therefore anticipates holding a third closing shortly.
The proceeds of the private placement will be
used to pay a royalty holder and advance the permitting process of
Calico's high grade underground gold deposit, the Grassy Mountain
Project, located in south east Oregon.
On behalf of the Board,
Arden (Buck)
Morrow,
President, CEO and Chairman
Cautionary Statement
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