Anglo Swiss Resources Inc. Closes $734,000 Placement.VANCOUVER, British Columbia -- Anglo Swiss Resources Inc. (TSX VENTURE:ASW)(OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ASWRF)(BERLIN:AMO) is pleased to report it that it has closed a brokered private placement of 1,224,500 units at $0.60 per unit, for gross proceeds of $734,000 dated December 29, 2005. Each Unit consisted of five flow-through shares ("FTS FTS facteur thymique sérique. "), one common share ("NFT"), and one NFT share purchase warrant. The flow-through shares will entitle the investor to the tax benefits of the qualifying Canadian exploration expenses ("CEE") incurred by the company, which will be flowed through to the investor. The common share proceeds will be used for working capital and each warrant under the offering will entitle the investor to purchase one additional NFT common share at an exercise price of $0.22 per share until Dec. 29, 2007. Research Capital Corporation acted as the Agent of this offering. A finder's fee was paid equal to 7.5% in cash ($55,102.50) plus 100,000 NFT common shares. Agent options were issued equal to 12% of the offering providing an option to purchase 146,940 units at $0.60 per unit consisting of six NFT shares and one NFT share purchase warrant exercisable at $0.22 until December 29, 2007. All common shares (FTS & NFT) issued under this placement are subject to regulatory approvals and will be restricted for trading until April 30, 2006. Anglo Swiss Resources is an exploration company focused on locating diamond-bearing kimberlites in the Lac de Gras Lac de Gras is a lake approximately 300 km north of Yellowknife, Northwest Territories, Canada. Lac de Gras was the centre of the Canadian diamond rush of the 1990s. There are two working diamond mines in the area, Ekati Diamond Mine, and Diavik Diamond Mine. area, NWT, Canada. The Company's philosophy is to obtain majority ownership of under-explored areas with unexplained kimberlite indicator mineral ("KIM's") trains and/or kimberlite targets near known kimberlites and diamond mining operations. Anglo Swiss has now acquired three separate and distinct diamond projects which meet the acquisition criteria. On behalf of the Board, Len Danard, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. THE COMPANY RELIES ON LITIGATION An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. PROTECTION FOR "FORWARD LOOKING" STATEMENTS. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept resp onsibility for the adequacy or accuracy of this release. Anglo Swiss Resources Inc. (TSX VENTURE:ASW) (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :ASWRF) (BERLIN:AMO) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion