X-Cal Completes No-Warrant $500,000 Private Placement

X-Cal Resources Ltd. has completed a private placement of 10 million common shares at 5 cents per share, for gross proceeds of $500,000. No warrants were issued as part of this PP. Certain directors took up 800,000 shares of the offering. The news release notes that the proceeds are to be used for a scoping study on X-Cal's Sleeper Gold property in Nevada.

X-Cal last closed at that same 5 cents last Thursday, for a gain of 0.5 cents. The current bid-ask is 4 cents - 5.5 cents.

The company's Google Finance web page is here.

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