Business
Anglo Swiss Resources Inc. Closes First Tranche Private Placement
/NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA/ VANCOUVER, Aug. 9, 2011 /CNW/ - ...
About this update from Gungnir Resources Inc
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA/\n\n\nVANCOUVER, Aug. 9, 2011 /CNW/ - Anglo Swiss Resources Inc. (ASW:TSX-V, ASWRF:OTCQX) (\"Anglo Swiss\" or \"the Company\") is pleased to announce that the\n Company has closed the first tranche of the proposed private placement\n announced on July 26, 2011.\n\n\nAnglo Swiss placed 1,250,000 flow-through shares of the Company (the \"FT Shares\") at a price of $0.15 per FT Share, for gross proceeds of $187,500.\n\n\nAnglo Swiss also placed 4,436,666 working capital units of the Company\n (the \"WC Units\") at a price of $0.12 per WC Unit, for gross proceeds of $532,400.\n Each WC Unit consists of one common share (a \"WC Share\") and one-half of one common share purchase warrant (a \"WC Warrant\") of the Company. Each full WC Warrant entitles the holder to acquire\n an additional common share at a price of $0.20 per share for a period\n of eighteen (18) months from the closing date.\n\n\nThe Company paid a finder's fee of $13,194 and issued 125,000 Finder's\n Warrants exercisable into a common share at $0.15 for a period of\n eighteen (18) months from the closing date and 27,000 Finder's Options\n exercisable into a WC Unit at $0.12 for a period of eighteen (18)\n months from the closing date.\n\n\nSecurities issued pursuant to the above referenced private placements\n are legended and restricted from trading until December 10, 2011.\n\n\nAn insider subscribed for 170,000 WC Units. The insider private\n placement is exempt from the valuation and minority shareholder\n approval requirements of Multilateral Instrument 61-101 (\"MI61-101\") by virtue of the exemptions contain in section 5.5(a) and 5.7(1) (a)\n of MI 61-101 in that the fair market value of the consideration for the\n securities of the Company issued to the insider did not exceed 25% of\n its market capitalization.\n\n\nThe Company plans to leave the offering open and may place up to a\n further 1,813,334 WC Units and 5,416,680 FT Shares for up to a further\n $1,030,102.\n\n\nThe funds raised from this offering will be used for further exploration\n of the Company's Kenville Gold Mine property and the Nelson Mining Camp\n property in British Columbia and the Lansdowne House Ring of Fire\n property in Ontario and for general working capital.\n\n\nThe Company would also like to clarify that its previou...