FSC / Press Release
Anglo Swiss Completes Private Placement of $547,000 Equity Offering
Vancouver, British Columbia CANADA, December 18, 2008 /FSC/ - Anglo Swiss Resources Inc. (ASW - TSX Venture, ASWRF - OTCBB, AMO - FWB), ("Anglo Swiss") is pleased to announce today that it has completed the non-brokered private placement of 5,470,000 flow-through units ("Flow-Through Units") of Anglo Swiss at a price of $0.10 per Flow-Through Unit for gross proceeds of $547,000 of which $500,000 was completed with the MineralFields Group, subject to final TSX Venture Exchange approval. Each Flow-Through Unit consisted of one flow-through common share and one non-flow-through common share purchase warrant of Anglo Swiss, each whole warrant entitling the holder thereof to acquire one common share of Anglo Swiss on or before December 17, 2010 at a price of $0.18 per share during the first 12 month period and at a price of $0.25 per share during the second 12 month period.
Anglo Swiss intends to use the 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.
In connection with the private placement, Anglo Swiss paid Limited Market Dealer Inc. ("LMD") a finder's fee of $30,000. In addition, Anglo Swiss granted LMD broker options to purchase an aggregate of 500,000 units (the "Broker Units") of Anglo Swiss at a price of $0.10 per Broker Unit on or before December 17, 2010. Each Broker Unit is comprised of one common share and one common share purchase warrant of Anglo Swiss, each whole warrant entitling the holder thereof to acquire one common share at a price of $0.18 per share during the first 12 month period and at a price of $0.25 per share during the second 12 month period.
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 18, 2009.
Len Danard, President and Chief Executive Officer of Anglo Swiss, commented, "We are very pleased to have completed this second private placement with the MineralFields Group as it will provide our company with the funds to continue with the ongoing exploration of the Kenville Gold Property and the Fry Inlet Diamond Property".
About MineralFields, Pathway and First Canadian Securities (r)
MineralFields Group (a division of Pathway Asset Management), based in Toronto and Vancouver, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities (r) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities (r).
