MONTREAL, March 5 /CNW Telbec/ - Caldera Resources Inc. (the "Corporation", TSX: CDR), announced today that it has completed the second tranche of its non-brokered private placement which was approved by shareholders of the Corporation held at the AGM on December 4, 2008 (see press release dated December 5, 2008).
"A Units" are comprised of a face value of $1000 principal amount of Zero Coupon Convertible Debenture maturing in 2 years and 25,000 warrants exercisable at $0.05 per share for the first 12 months from closing and $0.10 expiring 2 years from the closing. The yield of the Debenture is 11.8%, when held to maturity. The Debenture can be converted at anytime by the holder at $0.05 for the first 12 months after closing and $0.10 thereafter. The price of each "A Unit" is $800.
"B Units" are comprised of 30,000 common shares at $0.015 per share and 15,000 warrants exercisable at $0.05 per share for the first 12 months after the closing and at $0.10 expiring 2 years from closing. All common stock issued under this financing is subject to a 4 month hold. The price of each "B Unit" is $450.
A total of 100 A Units for gross proceeds of $80,000 and 13 B Units for gross proceeds of $5,850 were subscribed in the second tranche by two (2) insiders of the Corporation, for gross proceeds of $85,850. The proceeds will be used to fund the Corporation's exploration projects and for general working capital purposes. There were no finders' fees associated with this private placement. No further tranches are expected to close.
These same two insiders also accepted that the terms of their subscription be amended to reflect the same terms on the Convertible Debentures and the Warrants in this second tranche of the financing. This amended was requested by the TSX Venture Exchange as part of the conditions for the conditional approval of the listing of the Corporation's common shares. In this way, the Convertible Debentures and the Warrants comply with the policies of the TSX Venture Exchange.
Including this second tranche of the financing, the Private Placement has resulted in a total issuance of 200 "A Units" priced at $800 per unit and 59 "B Units" priced at $450 per unit for total gross proceeds of $186,550.
About Caldera
Caldera is engaged in diamond and base metal exploration in Australia. The Corporation has an advanced diamond exploration project located adjacent to the Ellendale Mine, owned and operated by GEM Diamonds.
About CanBiomine
CanBiomine is a wholly owned subsidiary of Caldera, which is focused on projects where bioleaching can be used for the recovery of base metals and precious metals from mine waste and tailings. CanBiomine has signed a strategic alliance with BacTech Mining Corporation (TSX-V: BM - News) whereby BacTech will provide technical support and know-how on projects sourced by CanBiomine. CanBiomine is currently undertaking a technical review on the former Gjegjan Copper Mine located in North East Albania, in preparation of a proposal for a scope study which is scheduled to commence in the spring of 2009. CanBiomine is also evaluating tailings gold and base metal recovery projects in Serbia.
For further information: Bill Mavridis, President, Caldera Resources Inc., (514) 813-9200, bmavridis@calderaresources.com; www.calderaresources.com; Blog: www.calderaresources.com/blog
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