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Calibre Mining to raise C$3M via private placement

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Calibre Mining to raise C$3M via private placement

Calibre MiningCorp. said April 11 that it plans to undertake a private placementof up to 30,000,000 units at 10 Canadian cents apiece to raise about C$3million.

Each unit will consist of 1 common share and 1 common share purchasewarrant, with each warrant entitling the holder to acquire an additional commonshare for 16 cents apiece for 24 months from closing.

Proceeds will be used to advance exploration and development of thecompany's projects in Nicaragua, including the drilling of the high prioritySanta Maria gold-silver target within the Rosita district.

The company will also continue the exploration of the Northern Siunaproject and carry out additional work on anomalous zones in the Carpatosdistrict and the El Paste concession.