Caldera closes CanBiomine deal for 27 million shares

2008-11-03 10:30 ET - News Release

Mr. Chris Reindler reports

CALDERA ANNOUNCES CLOSING OF CANBIOMINE RESOURCES ACQUISITION AND DEBT SETTLEMENT

Caldera Resources Inc., further to its news releases in Stockwatch dated Sept. 25, 2008, and Oct. 14, 2008, has closed its acquisition of CanBiomine Resources Inc., a private Canadian mining company developing bioleach projects in Southeastern Europe, and has closed the settlement of debts of four creditors of Caldera, who are also insiders of Caldera.

The acquisition was valued at $625,000 and was completed through the issuance of 27 million shares of Caldera common stock at 2.315 cents per share. After giving effect to the acquisition and the debt settlement Caldera has 140,155,767 shares outstanding, with shareholders of CanBiomine holding 19.26 per cent of the outstanding shares of Caldera.

Pursuant to the debt settlement, four insiders, Lanza Holdings Pty. Ltd. (controlled by the chief financial officer of Caldera, Mike Langoulant), Reindler & Co., (controlled by the president, chief executive officer and director of Caldera, Chris Reindler), Ron Winston (who holds over 14.0 per cent of Caldera's current outstanding common shares) and Peggie Reindler (who is the wife of Mr. Reindler), settled $409,774.40 worth of debt in exchange for 8,195,488 common shares of Caldera, priced at five cents per share. Caldera received Toronto Stock Exchange approval for a waiver of the shareholder approval requirement for the debt settlement, based upon Section 604 (e) of the TSX company manual (see the company's news release in Stockwatch dated Oct. 14, 2008, and material change report dated Oct. 15, 2008).

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