ASW: TSX.V
VANCOUVER,
March 11, 2014 /CNW/ - Anglo Swiss
Resources Inc. (ASW: TSX-V, ASWRF: PK) ("Anglo Swiss" or the "Company") is
pleased to announce that it has received the $100,000 non-refundable deposit from 0995237 B.C.
Ltd. ("0995237") relating to the sale of the Company's Kenville
Gold Property (the "Property"). In a news release dated
March 3, 2014 the Company announced
that it had entered into a binding letter agreement (the "Letter
Agreement") to sell the Property to 0995237. Total consideration
for the purchase of the Property is CDN$5,900,000 which shall be satisfied by the
delivery to Anglo Swiss of a
$100,000 (now received) and a payment
of $800,000 on or before 60 days
following the execution of this Letter Agreement and five (5)
payments totaling $5,000,000 with
annual payments of $1,000,000
starting on or before the third anniversary following the closing
date.
Additional information regarding this
transaction will be provided in the management information circular
that will be mailed to registered shareholders and filed on SEDAR
at http://www.sedar.com. Completion of the transaction
is subject to a number of conditions, including, but not limited
to, confirmatory due diligence, the receipt of all required
regulatory approvals, including the approval of the TSX Venture
Exchange, and approval of the shareholders of Anglo Swiss.
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.
Current assets include its Kenville
Gold and Blu Starr Flake Graphite properties in southeastern
BC. The Company has recently entered into an agreement in
principle to acquire gold exploration properties in Sweden (see news release dated February 12, 2014). 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.