Anglo Swiss Resources Inc. Arranges a $1,500,000 Private Placement IMMEDIATE RELEASE
Not For Distribution in the United States of America
Anglo Swiss Resources Inc. Arranges a $1,500,000 Private Placement
IMMEDIATE RELEASE Vancouver, British Columbia. February 26, 2010 TSX Venture: ASW OTCBB: ASWRF Frankfurt: AMO
Anglo Swiss Resources Inc. (the “Company”) has entered into an agreement with Kingsdale Capital Markets Inc. of Toronto (“Kingsdale”), whereby Kingsdale has been appointed as agent for the Company to sell by private placement, on a best efforts basis, 4,285,715 units of the Company (the “Units”) at $0.35 per Unit, for gross proceeds of $1,500,000. Each Unit shall consist of one common share (a “Share”) and one-half of one common share purchase warrant (a “Warrant”) of the Company. Each full Warrant shall be exercisable for a period of one year at an exercise price of $0.50 per Share.
The Company shall pay to Kingsdale a fee equal to 5% of the gross proceeds payable either in cash or in common shares at Kingsdale’s option. As well, the Company will grant to Kingsdale warrants (the “Agent Warrants”) to acquire Units equal to 5% of the number of Units sold. The Agent Warrants will be exercisable for a period of 1 year from the date of issue at $0.35 per Unit. 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.
Anglo Swiss Resources Inc. is a mineral exploration company with its current focus on gold, silver and base metals at its 15,000 hectare Nelson Mining Camp located to the south west of Nelson, British Columbia.
The funds raised from this offering will be used for further exploration on the Nelson Mining Camp and the Company’s 100% owned Kenville Gold Mine property where recent results have generated high grade gold assay results and for general corporate and working capital. Please visit the Company's website at www.anglo-swiss.com for more information on the Company and its projects.
Company contacts:
Len Danard President and Chief Executive Officer Tel: (604) 683-0484 Fax: (604) 683-7497 Email: [email protected]
Investor Relations Contacts:
Jeff Walker or Grant Howard The Howard Group Inc.
Toll Free: 1-888-221-0915 www.howardgroupinc.com
Reader Advisory
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement on Forward-Looking Information:
This release contains certain "forward-looking statements" including, without limitation, expectations, beliefs, plans and objectives regarding the potential transactions and ventures discussed in this release. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in mineral exploration, the need to obtain additional financing, the availability of needed personnel and equipment for exploration and development, fluctuations in the price of minerals, and general economic conditions.