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Anglo Swiss Resources Inc. Arranges Private Placement
Dec. 29, 2010 (Filing Services Canada) -- Anglo Swiss Resources Inc. (ASW - TSX Venture, ASWRF ...
About this update from Gungnir Resources Inc
[{"type":"text","content":"\nAnglo Swiss Resources Inc. Arranges Private Placement\n\n\n Dec. 29, 2010 (Filing Services Canada) -- Anglo Swiss Resources Inc. (ASW - TSX Venture, ASWRF - OTCBB), is pleased to announce that it 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:a) up to 7,000,0000 flow through units of the Company (the \"FT Units\") at $0.35 per Unit, for gross proceeds of $2,450,000. Each Unit shall consist of one common share (a \"Share\") and one-half of one common share purchase warrant (a \"FT Warrant\") of the Company. Each full Warrant shall be exercisable for a period of two years at an exercise price of $0.50 per Share; andb) up to 3,000,000 non-flow through units of the Company (the \"NFT Units\") at $0.30 per Unit, for gross proceeds of $900,000. Each Unit shall consist of one common share (a \"Share\") and one common share purchase warrant (a \"NFT Warrant\") of the Company. Each full Warrant shall be exercisable for a period of two years at an exercise price of $0.40 per ShareThe Company shall pay to Kingsdale a fee equal to 7% 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 10% of the number of Units sold. The FT Agent Warrants will be exercisable for a period of 2 years from the date of issue at $0.35 per Unit. The NFT Agent Warrants will be exercisable for a period of 2 years from the date of issue at $0.30 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.The funds raised from this offering will be used for further exploration and production on the Company's 100% owned Kenville Gold Mine property and the Nelson Mining Camp where recent results have generated high grade gold assay results and for general corporate and working capital.About Anglo SwissAnglo Swiss Resources is earning a majority interest in the 160 square kilometer Nelson Mining Camp, the host to the Company's 100% owned Kenville Gold Mine property. The Nelson Mining Camp is the host to numerous, historical producing gold, silver and copper mines,...