Can-Cal Resources Ltd. (OTC Bulletin Board: CCRE) has completed the fourth and final tranche of the $350,000 non-brokered private placement. The final tranche included 1,144,000 units for $0.125 per unit resulting gin gross proceeds of $143,000.
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Each unit contains 1 common share and 1 common share purchase warrant. Each warrant can be exercised for 1 common share at $0.15 per share through March 31, 2011. The total proceeds from all four tranches of the private placement totaled $370,825.
Can-Cal is an emerging precious metals exploration company actively engaged in identifying commercial mining opportunities. Can-Cal is currently focusing its efforts on the following three properties: Pisgah - California, Owl Canyon - California and Wikieup - Arizona.
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