Deal funds exploration and development on the Grassy Mountain Project
By Devika Patel
Knoxville, Tenn., Sept. 7 - Calico Resources Corp. said it will conduct a C$2 million non-brokered private placement of units. There is a C$300,000 greenshoe.
The company will sell 8 million units of one common share and one half-share warrant at C$0.25 per unit.
The whole warrants are exercisable at C$0.40 for two years. The strike price is a 60% premium to the Sept. 6 closing share price of C$0.25.
Proceeds will be used for exploration and development on the company's Grassy Mountain Project and for general working capital.
Calico is an iron ore and gold exploration company based in Vancouver, B.C.
| Issuer: | Calico Resources Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Greenshoe: | C$300,000
|
| Units: | 8 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 7
|
| Stock symbol: | TSX Venture: CKB
|
| Stock price: | C$0.25 at close Sept. 6
|
| Market capitalization: | C$7.78 million
|
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