Can-Cal Resources Ltd. (OTCBB:CCRE) announced a private placement for gross proceeds of $250,000 on June 20, 2012.

On August 1, 2012, the company announced that it has closed the first tranche of the transaction for proceeds of $100,000. The company will issue 2,500,000 units at a price of $0.10 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase an additional common share of the company at a price of $0.15 per share for two years from the date of issuance.

On October 24, 2012, Can-Cal Resources Ltd. cancelled the transaction.