VANCOUVER,
June 19, 2014 /CNW/ - Calico
Resources Corp. (TSX-V: CKB) ("Calico") announces that it
has 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, which was
originally announced March 25,
2014.
In its news release of April 30, 2014, Calico announced the closing of a
first tranche of the financing, raising $293,000 and that a second tranche was expected
to close by May 15. The Company
intends to close a second tranche of the financing shortly.
Calico's intention is to raise a total of up to
$2.0 Million by the issuance of 16.67
Million units at the price of $0.12
per unit. Each unit will comprise of one common share and
one-half of one transferable share purchase warrant, with each full
warrant entitling the holder to purchase a further share at the
price of $0.15 up to one year from
the date of the closing of the private placement.
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.
All securities to be issued under the private
placement will be subject to a four month hold period and the
securities to be issued to US residents, will also be subject to
resale restrictions under US securities laws.
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