Posted in | News | Gold | Silver

Caldera to Raise $2 Million for Armenian Drilling Program

Caldera Resources Inc. (TSX.V: CDR) is pleased to announce that it is proceeding with a non-brokered private placement financing to raise gross proceeds of $2,000,000 (the "Private Placement").

The proceeds will be used for a drilling program on the Marjan Gold and Silver Project, located in Armenia and for general working capital.

Insiders and two institutional investors have submitted subscription forms totaling $1,450,000. Additional subscriptions have also been received, with total commitments of up to $2,000,000 of subscriptions. The closing is scheduled for Friday, October 8, 2010.

The private placement is priced at $0.10 per share, for total issuance of up to 20,000,000 common shares. No share purchase warrants will be issued in conjunction with this private placement.

The Company may pay finder's fees to arm's length parties ("Finders") in connection with the Private Placement, equal to 6% of the subscription proceeds realized from the sale of the Shares by the respective Finders and 7% in the form of broker warrants. Each broker warrant entitles the holder to purchase one additional common share for a period of twelve months at an exercise of $0.10 per share.

The securities issued will be subject to a hold period of four months and one day.

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