Vancouver, British Columbia CANADA, Dec 24, 2009 -- Anglo Swiss Resources Inc. (ASW - TSX Venture)(ASWRF - OTCBB), announced today that it has completed the private placement of 1,000,000 units ("Units") of Anglo Swiss at a price of $0.40 per Unit for gross proceeds of $400,000 of a non-brokered flow through private placement announced December 4, 2009.Each Unit consisted of one flow through common share and one common share purchase warrant of Anglo Swiss, each warrant entitling the holder thereof to acquire one common share of Anglo Swiss on or before December 21, 2011 at a price of $0.60 per share. The common shares issued will be restricted for trading until April 22, 2010.
Anglo Swiss intends to use the proceeds from the flow through private placement for exploration expenditures on its Canadian properties that qualify for flow through expenditures. 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 22, 2009.
About Anglo Swiss
Anglo Swiss Resources Inc. is a mineral exploration company with its current focus on gold, silver and base metals at its Nelson Mining Camp located to the south west of Nelson, British Columbia. The Nelson Mining Camp consists of 3,411 hectares of contiguous claims striking over 8 kilometres situated along the Silver King Regional Shear Zone. The Silver King Shear is the host to numerous, historical gold, copper and silver mines in south-eastern British Columbia including Anglo Swiss' 100% owned Kenville Gold Mine.
The Company is also in the process of exploring for diamonds and gemstones in Canada. For further information, investors are asked to visit the Anglo Swiss Resources Investor Relations Hub at www.agoracom.com/IR/AngloSwiss or email to ASW@agoracom.com.Please visit the company's website at www.anglo-swiss.com or contact:
Len Danard
President and Chief Executive Officer
Tel:(604) 683-0484
Fax:(604) 683-7497
Email: info@anglo-swiss.com
Investor Relations Contacts:
Canada
Jeff Walker or Grant Howard
The Howard Group Inc.
Toll Free: 1-888-221-0915
www.howardgroupinc.com
Reader Advisory
This press release shall not constitute an offer to sell or the solicitation of any offer to buy the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered will not be and have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.
This press release contains forward-looking statements which are based on Anglo Swiss' current internal expectations, which may prove to be incorrect.These statements are not a guarantee of future performance and undue reliance should not be placed on them.Such forward-looking statements necessarily involve known and unknown risks and uncertainties that are common to junior mineral exploration companies.These risks and uncertainties include, among other things, Anglo Swiss' need for additional funding to continue its exploration efforts, changes in general economic, market and business conditions; and competition for, among other things, capital and skilled personnel. Anglo Swiss undertakes no obligation to update or revise any forward-looking statements except as required by applicable securities laws.
