Anglo Swiss Resources Inc. announced today that it has completed the private placement of 1,000,000 units (”Units”) of Anglo Swiss at a price of $0.40 per Unit for gross proceeds of $400,000 of a non-brokered flow through private placement announced December 4, 2009. Each Unit consisted of one flow through common share and one common share purchase warrant of Anglo Swiss, each warrant entitling the holder thereof to acquire one common share of Anglo Swiss on or before December 21, 2011 at a price of $0.60 per share. The common shares issued will be restricted for trading until April 22, 2010.
Anglo Swiss intends to use the proceeds from the flow through private placement for exploration expenditures on its Canadian properties that qualify for flow through expenditures. All of the securities issued by Anglo Swiss pursuant to the private placements are subject to a four-month hold period under Canadian securities laws and are subject to restrictions on resale prior to April 22, 2009.