Calico Resources Corp.(TSXV:CKB) announced that it will carry out a private placement with Stonecap Securities Inc. The private placement will consist of up to 14,750,000 units at $0.34 per unit for gross proceeds of up to $5,015,000. Calico has also given Stonecap an option to purchase an additional 15% of the units. The Offering is expected to close on April 19, 2012.

As quoted in the press release:

Each Unit shall consist of one common share of the Company and one-half of one common share purchase warrant (a “Warrant”), with each whole Warrant entitling the holder thereof to acquire one common share of the Company at $0.50 for 24 months following closing of the Offering.

Click here to read the Calico Resources Corp. (TSXV:CKB) press release