Vancouver, June 13, 2011: Calico Resources Corp. (TSX-V: CKB)
(the �Company� or �Calico�) is pleased to announce the closing of its
non-brokered private placement announced on May 24, 2011. The
Company issued 2,625,000 units at a price of $0.50 per unit. The
total proceeds raised in this placement amount to $1,312,500.
FCMI Parent Co. (�FCMI�) was among those participating in the
private placement and subscribed for 1,000,000 units. FCMI is a
private corporation based in Toronto, controlled by Albert D. Friedberg
and members of his family.
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 two years, expiring June 8, 2013.
The Company has paid a cash finder�s fee of $15,000 in
connection with the private placement to certain parties who were
instrumental in introducing investors to the Company.
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 October 9, 2011.
The net proceeds will be used for exploration, environmental,
engineering, other expenses associated with the Company�s Grassy
Mountain Project (Project) and for general working capital. The
Project is optioned from Seabridge Gold Inc.
and is located in Malheur County, Oregon. The Project has NI
43-101 compliant Indicated resources of 924,000 ounces of gold
averaging 1.54 gram per ton at a 0.55 gram per ton cutoff.
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."
For more information: Terri Anne Welyki
- Vice-President of Corporate Development - 604-681-6855.
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