VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 8, 2011) - Calibre Mining Corp. (TSX VENTURE:CXB) -
NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRES
Edward Farrauto, President and CEO of Calibre Mining Corp. (TSX VENTURE:CXB) (the "Company" or "Calibre") is pleased to announce the Company has closed the first tranche ("First Tranche") of its previously disclosed non-brokered private placement of $3,000,000 ("Private Placement").
The First Tranche consists of 13,400,000 common shares at $0.10 per share for gross proceeds of $1,340,000. The shares issued in connection with the First Tranche have a four month hold period ending on December 4, 2011 and December 6, 2011. The Company did not pay any finder's fees in connection with the First Tranche.
The Company expects to complete the Private Placement by issuing an additional 16,600,000 common shares for gross proceeds of $1,660,000 in connection with the second tranche shortly. The Private Placement is subject to final approval of the TSX Venture Exchange.
The proceeds of this offering will be used to advance the exploration and development of the Company's Borosi Project in Nicaragua and for general working capital purposes.
About Calibre Mining Corp.
Calibre Mining Corp. is a, TSX Venture Exchange listed company (TSX VENTURE:CXB) that is focused on the acquisition, exploration and development of gold and silver deposits in Central America. Major shareholders of Calibre include gold producer Yamana Gold Inc. and investment fund Sun Valley Gold.
Calibre Mining Corp.
Edward Farrauto, CGA, President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Mark Carruthers
604 681 9944
www.calibremining.com