VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 19, 2007) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Anglo Swiss Resources Inc. ("Anglo Swiss") (TSX VENTURE:ASW)(OTCBB:ASWRF)(BERLIN:AMO) announced today that it has completed the second traunche of the equity offerings announced on November 27, 2007, issuing 3,750,000 units ("Units") of Anglo Swiss at a price of $0.40 per Unit for total gross proceeds of $1.5 million. Each Unit consisted of one common share and one-half of one common share purchase warrant of Anglo Swiss, each whole warrant entitling the holder thereof to acquire one common share of Anglo Swiss at a price of $0.60 per share on or before December 18, 2009. In addition, Anglo Swiss completed the private placement of 627,503 flow-through units ("Flow-Through Units") of Anglo Swiss at a price of $0.475 per Flow-Through Unit for gross proceeds of approximately $0.3 million. Each Flow-Through Unit consisted of one flow-through common share and one-half of one common share purchase warrant of Anglo Swiss, each whole warrant entitling the holder thereof to acquire one common share of Anglo Swiss at a price of $0.80 per share on or before December 18, 2008 and thereafter at a price of $1.00 per share until December 18, 2009. Anglos Swiss has raised aggregate gross proceeds of approximately $4.3 million from the issuance of a total of 4,838,025 Flow-Through Units and 5,000,000 Units on December 10, 2007 and December 18, 2007.
Anglo Swiss intends to use the net proceeds from the private placement to fund further exploration on its wholly-owned Kenville Gold Property and on the Fry Inlet Diamond Property in which it is earning up to a 60% interest pursuant to an option and joint venture agreement, to fund the refurbishment of Anglo Swiss' Kenville Mill, as well as for general working capital purposes.
In connection with the private placement, Anglo Swiss paid arm's length finders finder's fees in the aggregate amount of $15,738. In addition, Anglo Swiss granted arm's length finders options to purchase an aggregate of 36,882 units (the "Finder Units") of Anglo Swiss at a price of $0.40 per Finder Unit on or before December 18, 2009. Each Finder Unit is comprised of one common share and one-half of one common share purchase warrant of Anglo Swiss, each whole warrant entitling the holder thereof to acquire one common share at a price of $0.60 per share on or before December 18, 2009.
All of the securities issued by Anglo Swiss pursuant to the private placements are subject to a four-month hold period under Canadian securities laws and are subject to restrictions on resale prior to April 19, 2008.
