Anglo Swiss Shareholders Approve Kenville Gold Property Sale

ASW: TSX.V  

 

VANCOUVER, Aug. 9, 2013 /PRNewswire/ - Anglo Swiss Resources Inc. (ASW: TSX-V, ASWRF: PK) ("Anglo Swiss" or the "Company") is pleased to announce that shareholders have overwhelmingly approved the sale of the Kenville Gold Property to Eagle Creek Gold Corp. ("Eagle Creek"), a private Alberta-based company, at a 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 $1.9-million on closing with the balance payable in stages to August 15, 2017 (see News Release dated July 4, 2013). The Company also wishes to announce that it has subsequently agreed to extend the closing of the transaction to September 30, 2013 from August 15, 2013.

Jari Paakki, Chief Executive Officer of Anglo Swiss, commented: "With 99.1% of 42,652,758 shares voted in favour of selling Kenville, shareholders clearly support management's view that this transaction is an exceptional opportunity that will greatly improve the Company's future ability to grow and increase shareholder value. We are actively evaluating new opportunities and working to advance the Company's Blu Starr flake graphite project in southeastern BC. The property is strategically located adjacent to Eagle Graphite Corporation's flake graphite mine, western North America's only operating flake graphite mine. Blu Starr hosts numerous large to jumbo flake graphite occurrences and is drill-ready with government permits in place."

ON BEHALF OF THE BOARD OF DIRECTORS,

Jari Paakki, P.Geo.
CEO

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.



More by this Source


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.