Drill for structure, drift for grade
Developing the Historic Kenville Gold Mine in Southeastern British Columbia
Message: Anglo Swiss Resources Closes Second Tranche of Private Placement
/NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA/
VANCOUVER, Dec. 29, 2011 /CNW/ - Anglo Swiss Resources Inc. (ASW:TSX-V, ASWRF: OTCQX) ("Anglo Swiss" or the "Company") is pleased to announce that further to its press release of December 19, 2011, it has closed the second tranche of its private placement.
Anglo Swiss has placed 6,600,000 working capital units (the "WC Units") of the Company for gross proceeds of $330,000. Each WC Unit consists of one (1) common share of the Company and one (1) common share purchase warrant (a "WC Warrant"). Each WC Warrant entitles the holder to acquire one (1) additional common share of the Company at an exercise price of $0.10 for a period of twenty-four (24) months from the closing date. The Company paid finder's fees in the amount of $18,300 and 488,000 Finder's Warrants exercisable into a WC Unit at $0.05 for a period of twenty four (24) months from the closing date.
Securities issued pursuant to the above referenced private placements are legended and restricted from trading until April 30, 2012.
To date the Company has raised gross proceeds of $1,130,000 under the current private placement. The Company plans to leave the WC Units offering open and may place up to a further 23,700,000 WC Units.
The funds raised from this offering will be used for further exploration of the Company's Kenville Gold Mine Property in British Columbia and the Lansdowne House Ring of Fire property in Ontario and for general working capital.
About Anglo Swiss:
Anglo Swiss Resources Inc. controls a highly-prospective, Canadian precious and base metal exploration property portfolio which includes its flagship 100%-owned Kenville Gold Mine Property in southeastern BC, as well as its 100%-owned Lansdowne House, Ring of Fire nickel-copper-PGE project in northwestern Ontario. Further information about the Company may be found at http://www.anglo-swiss.com or at http://www.sedar.com.
Cautionary Note Regarding Forward-Looking Statements: Certain statements made herein may contain forward-looking statements or information within the meaning of Canadian securities laws. Such forward-looking statements or information include, but are not limited to, statements or information with respect to Anglo Swiss Resources' plan for future exploration and development of its properties. Forward-looking statements or information are based on a number of estimates and assumptions and are subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking statements or information. Should one or more of these risks and uncertainties materialize, or should underlying estimates and assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. For example, there is no certainty, that any economically viable mineral deposit will be located on the Property, or that the Company will be able to raise sufficient capital to complete all of its exploration and drill programs. Accordingly, undue reliance should not be placed on forward-looking statements or information. Anglo Swiss does not expect to update forward-looking statements or information continually as conditions change, except as may be required by securities law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Chris Robbins, Vice President
Jari Paakki, CEO
Tel: 705-673-5462 ext 227
Source: Canada Newswire (December 29, 2011 - 4:10 PM EST)
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