/NOT FOR DISTRIBUTION IN THE UNITED STATES/
VANCOUVER, Nov. 7, 2011 /CNW/ - Anglo Swiss Resources Inc. (TSXV: ASW) (OTCQX: ASWRF) ("Anglo Swiss" or the "Corporation"), is pleased to announce that it
has arranged a non-brokered private placement of:
a) up to 10,000,000 flow through shares of the Corporation (the "FT
Shares") at $0.10 per FT Share, for gross proceeds of up to
b) up to 6,250,000 working capital units of the Corporation (the "WC
Units") at $0.08 per WC Unit, for gross proceeds of up to $500,000.
Each WC Unit shall consist of one (1) common share and one-half (1/2)
of one common share purchase warrant, (each whole, a "Warrant") of the
Corporation. Each Warrant shall entitle the holder to acquire one (1)
additional common share of the Corporation at an exercise price of
$0.12 for a period of 18 months from closing.
The Corporation may pay a finder's fee to certain qualified registrants
assisting the Corporation in the offering in an amount equal to 6%
payable in cash or shares and 10% Finder's Warrants/Finder's Options of
the gross proceeds raised by such finders. With respect to the sale of
WC Units, each Finder's Warrant entitles the finder to purchase one (1)
WC Unit of the Corporation at a price of $0.08 per WC Unit for eighteen
(18) months following Closing. With respect to the sale of FT Shares,
each Finder's Option entitles the finder to purchase one (1) common
share of the Corporation at the price of $0.10 per share for eighteen
(18) months following Closing. No other fee or commission is payable
by the Corporation in connection with the sale of the WC Units or FT
Shares. The completion of this offering is subject to the receipt of
all necessary regulatory and other approvals, including the approval of
the TSX Venture Exchange.
The funds raised from this offering will be used for further exploration
of the Corporation's Kenville Gold Mine property and the Nelson Mining
Camp in British Columbia and the Lansdowne House Ring of Fire property
in Ontario and for general working capital. The Company has closed the
private placement announced August 9, 2011 and will not complete a
About Anglo Swiss:
Anglo Swiss Resources Inc. controls a highly-prospective, Canadian
precious and base metal exploration property portfolio which includes
its flagship 165 sq. km, Nelson Mining Camp, that hosts the 100%-owned
Kenville Gold Mine, in southeastern BC; as well as its recently
acquired 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.
SOURCE Anglo Swiss Resources Inc.
For further information:
Jari Paakki, CEO
Tel: 705-673-5462 ext 227
Chris Robbins, Vice President
Toll Free 855-683-0484