Calico Announces Private Placement Financing for $2 Million

Calico Resources Corp. (TSXV:CKB,OTCQX:CVXHF) announced a non-brokered private placement of up to 8,000,000 units of the Company at a price of $0.25 per Unit, with an overallotment option of an additional 15% or 1,200,000 Units.

As quoted in the press release:

Each Unit will consist of one common share and one-half of one share purchase warrant (“Warrant”).  Each full Warrant will entitle the holder to purchase one common share of the Company for a period of two years from the closing date of the financing (“Closing”), at an exercise price of $0.40 per common share.

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