Offering proceeds earmarked for exploration, general working capital
By Devika Patel
Knoxville, Tenn., Dec. 19 - Anglo Swiss Resources Inc. said it repriced a non-brokered private placement to raise C$3.2 million and settled a C$800,000 tranche. The deal priced for C$1.5 million Nov. 7 and previously included shares but will now include only units.
The company will now sell 25 million flow-through units of one flow-through common share and one half-share warrant at C$0.06 per unit and 34 million units of one common share and one warrant at C$0.05 per unit. Each whole warrant is exercisable at C$0.10 for two years.
The strike price is an 81.82% premium to the Nov. 4 closing share price of C$0.055.
The company previously planned to sell 10 million flow-through shares at C$0.10 per share and 6.25 million units of one common share and one half-share warrant at C$0.08 per unit. Each whole warrant was to be exercisable at C$0.12 for 18 months.
In the first tranche, Anglo Swiss sold 3.7 million units and 10.25 million flow-through units. MineralFields Group bought 10 million flow-through units for C$600,000.
Limited Market Dealer Inc. and Integral Wealth Securities Ltd. were paid finder's fees.
Proceeds will be used for exploration of the company's Kenville Gold Mine property, its Nelson Mining Camp and its Lansdowne House Ring of Fire property and for general working capital.
Based in Vancouver, B.C., Anglo Swiss controls a precious and base metal exploration property.
| Issuer: | Anglo Swiss Resources Inc.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant, units of one common share and one warrant
|
| Amount: | C$3.2 million
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Investor: | MineralFields Group (for C$600,000)
|
| Pricing date: | Nov. 7
|
| Revised: | Dec. 19
|
| Settlement date: | Dec. 19 (for C$800,000)
|
| Stock symbol: | TSX Venture: ASW
|
| Stock price: | C$0.06 at close Nov. 7
|
| Market capitalization: | C$7.38 million
|
|
|
| Flow-through units
|
| Amount: | C$1.5 million
|
| Units: | 25 million
|
| Price: | C$0.06
|
| Warrants: | One half-share warrant per unit
|
|
|
| Units
|
| Amount: | C$1.7 million
|
| Units: | 34 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
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