Message #7 From:
NewsBot Date: July 11, 2005 07:36:25 PM
ASWRF News Anglo Swiss Resources Announces Research Capital Corporation to Act as Agent for Private Placement
Anglo Swiss Resources Announces Research Capital Corporation to Act as Agent for Private Placement
Anglo Swiss Resources Inc. (TSX VENTURE:ASW)(OTCBB:ASWRF)(BERLIN:AMO) is pleased to announce that it has engaged Research Capital Corporation to act as agent on a commercially reasonable efforts basis to carry out a private placement of Units to raise a minimum of $600,000 and a maximum of $1,200,000.
The Private Placement will consist of an offering of securities in the provinces of British Columbia and Alberta at a price of $0.60 per Unit. Each Private Placement Unit will consist of one (1) Common Shares (at $0.10 per Common Share), five (5) Flow-Through Shares (at $0.10 per Common Share) and one (1) Private Placement Warrants. Each whole Private Placement Warrant will entitle the holder to acquire one (1) additional Common Share at an exercise price of $0.22 per Common Share for a period of 24 months from the closing date.
Net proceeds of the Offering will be used to fund the continued exploration and development of the Company's diamond and gemstone properties and for general working capital.
Upon receiving approval from the regulatory authorities, the shares and warrants will be subject to a minimum hold period, restricted from resale for four months from the closing date of the Offering.
On behalf of the Board,
Len Danard, President & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Anglo Swiss Resources Inc. (TSX VENTURE:ASW) (OTC Bulletin Board:ASWRF) (BERLIN:AMO)
Anglo Swiss Resources Inc.
Len Danard
President & CEO
(604) 683-0484
Fax: (604) 683-7497
angloswiss@shaw.ca
www.anglo-swiss.com
