On July 23, 2012, Calvista Gold Corporation (“Calvista”) closed a private placement of 3,835,360 units (the “Units”) at a price of $0.40 per Unit for gross aggregate proceeds of $1,534,144. Each Unit consisted of one common share (“Common Share”) and one-half (1/2) of one Common Share purchase warrant (“Warrant”), with each Whole warrant entitling the holder thereof to purchase one additional Common Share at a price of $0.45 for a period of 24 months from the date of issuance. The offering was conducted on a non-brokered basis.

Peterson Law acted for Calvista with a team that included Dennis Peterson.