Swift Resources Inc.

Swift Resources Inc.

November 16, 2009 17:02 ET

Swift Resources Announces Financing With MineralFields Group

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 16, 2009) - Swift Resources Inc. ("Swift") (the "Company") (TSX VENTURE:SWR) is pleased to announce that it has completed the private placement (the "Financing") with MineralFields Group to raise gross proceeds of up to $500,000.

Under the terms of the Financing, the Company has issued 1,785,713 flow-through units (the "FT Units") at a price of $0.28 per FT Unit. Each FT Unit consisted of one flow-through common share (the "FT Shares") and one-half of a transferable non flow-through common share purchase warrant ("Warrants"). Each whole Warrant will entitle the holder to purchase one additional non flow-through common share at an exercise price of $0.35 per share until November 13, 2010, and thereafter at $0.45 per share until November 13, 2011.

Provided that the Company's shares close on the TSX Venture Exchange at any time after March 14, 2010 for twenty consecutive trading days at a price of $0.50 per share or higher during the period ending on November 13, 2010, and thereafter at a price of $0.65 per share or higher during the period ending on November 13, 2011, the Company may accelerate the expiry time to 30 calendar days from the date of express written notice delivered to the Warrant holder by way of registered mail, or thereafter the unexercised Warrant will be forfeited and terminated. The securities issued are subject to a hold period expiring March 14, 2010.

About MineralFields, Pathway and First Canadian Securities (R)

MineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities (R) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities (R).


Mike Elson, President & Chief Executive Officer

Neither the 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 news release.

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