Anglo Swiss Extends Expected Closing Date for the Sale of Kenville
VANCOUVER, Oct. 1, 2013 /PRNewswire/ - Anglo Swiss Resources Inc. (ASW: TSX-V, ASWRF: PK) ("Anglo Swiss" or the "Company") wishes to advise that the expected closing date for the sale of its Kenville Gold Project to Eagle Creek Gold Corp. ("Eagle Creek") has been extended to on or before December 30th, 2013. Eagle Creek requested a further extension to provide it with more time to close its financing to raise necessary funds for the Kenville transaction. Eagle Creek shall pay Anglo Swiss a further non-refundable $100,000 deposit on or before October 30, 2013 for the extension.
Shareholders of Anglo Swiss overwhelmingly approved the sale of the Kenville Gold Project to Eagle Creek at the Special Meeting held on August 7, 2013. The total purchase price is $8-million ($100,000 deposit received) which shall be satisfied by the delivery to Anglo Swiss of $1.8-million on closing (after credit for the further $100,000 deposit) with the balance payable in stages to August 15, 2017 (see News Release dated July 4, 2013).
ON BEHALF OF THE BOARD OF DIRECTORS,
Jari Paakki, P.Geo.
About Anglo Swiss:
Anglo Swiss Resources Inc. is a Canadian based exploration company with current assets including its Kenville Gold Mine and Blu Starr Flake Graphite properties in southeastern BC, and its Lansdowne House, Ring of Fire Nickel-Copper-PGE property in northwestern Ontario. Further information about the Company may be found at http://www.anglo-swiss.com or at http://www.sedar.com.
Cautionary Note Regarding Forward-Looking Statements: Certain statements made herein may contain forward-looking statements or information within the meaning of Canadian securities laws. Such forward-looking statements or information include, but are not limited to, statements or information with respect to Anglo Swiss Resources' plan for future exploration and development of its properties. Forward-looking statements or information are based on a number of estimates and assumptions and are subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking statements or information. Should one or more of these risks and uncertainties materialize, or should underlying estimates and assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. For example, there is no certainty, that any economically viable mineral deposit will be located on the Property, or that the Company will be able to raise sufficient capital to complete all of its exploration and drill programs. Accordingly, undue reliance should not be placed on forward-looking statements or information. Anglo Swiss does not expect to update forward-looking statements or information continually as conditions change, except as may be required by securities law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
SOURCE Anglo Swiss Resources Inc.