Tuesday, 27 November 2007

Private Placement Announced For Anglo Swiss


Anglo Swiss (ASW: TSX-V) (ASWRF: OTCBB) (AMO: BERLIN)

Anglo Swiss announced that it will raise approximately $5 million through a private placement with funds ear marked for exploration in early 2008 and general working capital. The private placement is broken down with $3 million as a Flow-Through Unit at $0.475. This unit consists of one common share and one-half of one common share warrant of Anglo Swiss. Each whole warrant entitles the holder to acquire one common share for a period of 24 months from the placement closing. If purchased in the first 12 months the price is $0.80 per share, the next 12 months will be at $1.00 per share. The remainder will be up to 5 million units released at a set price of $0.40 per unit. These units are made up of one common share and one-half of one common share warrant. Each whole warrant entitles the holder to acquire one common share at $0.60 per share for a 24 month period from the closing date.

The MineralFields Group intends to take a large portion of the placement and it plans to acquire approx 4.2 million Flow-Through Units and 1.25 million units with total proceeds of $2.5 million. MineralFields is a Toronto based mining fund with significant assets under its management. This leaves just over 2.1 million Flow-Through Units and 3.75 million Units available.

Although the markets are experiencing some difficulties, it is worth noting that Anglo Swiss has a had a great deal of interest in this private placement. This is just another piece of great news that Anglo Swiss has released to the market throughout November.

Click here to read the press release.