ASW PP
Anglo Swiss arranges $5-million financings
2007-11-27 10:30 ET - News Release
Mr. Len Danard reports
ANGLO SWISS ANNOUNCES EQUITY OFFERINGS
Anglo Swiss Resources Inc. intends to complete the following private placements, subject to receipt of all applicable regulatory approvals:
- Up to 6,315,790 flow-through units of Anglo Swiss at a price of 47.5 cents per flow-through unit for total gross proceeds of up to $3-million, each flow-through unit consisting of one flow-through common share and one-half of one common share purchase warrant of Anglo Swiss, each whole warrant entitling the holder thereof to acquire one common share of Anglo Swiss for a period of 24 months from the closing of the private placement at a price of 80 cents per share during the first 12-month period and at a price of $1.00 per share during the second 12-month period;
- Up to five million units of Anglo Swiss at a price of 40 cents per unit for total gross proceeds of up to $2-million, each unit consisting of one common share and one-half of one common share purchase warrant of Anglo Swiss, each whole warrant entitling the holder thereof to acquire one common share of Anglo Swiss at a price of 60 cents per share for a period of 24 months from the closing of the private placement.
All securities issuable under this private placement will be subject to a hold period under Canadian securities laws of four months and one day from the closing date.
Anglo Swiss intends to use the proceeds from the private placement to finance 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-per-cent interest pursuant to an option and joint venture agreement, to finance the refurbishment of Anglo Swiss's Kenville mill, as well as for general working capital purposes.
The MineralFields Group has advised Anglo Swiss that it intends to acquire 4,210,526 flow-through units for gross proceeds of $2-million and 1.25 million units for gross proceeds of $500,000.
About MineralFields, Pathway and First Canadian Securities
MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged superflow-through limited partnerships to investors throughout Canada during most of the calendar year, 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. Information about MineralFields Group is available at MineralField's website. First Canadian Securities is active in leading resource financings (both flow-through and hard dollar) on competitive, effective and service-friendly terms, with investors both within, and outside of, MineralFields Group.
We seek Safe Harbor.