Anglo Swiss Resources Inc.

Anglo Swiss Resources Inc.

June 19, 2014 09:00 ET

Anglo Swiss Announces Closing of Gungnir Acquisition, Proposed Change of Name, Consolidation and Post-Consolidation Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 19, 2014) - Anglo Swiss Resources Inc. (TSX VENTURE:ASW)(PINKSHEETS:ASWRF) ("Anglo Swiss" or the "Company") is pleased to announce that it has signed a definitive share exchange agreement effective June 16, 2014 to acquire Gungnir Resources Inc. ("Gungnir") and all of its exploration properties in northern Sweden. The acquisition (the "Gungnir Acquisition") was approved by disinterested shareholders at the Annual General and Special Meeting of Shareholders held on April 11, 2014 (the "Annual Meeting") and disclosed initially in the Press Release dated February 12, 2014. The transaction is scheduled to close immediately following the proposed Consolidation and change of name referred to below.

At the Annual Meeting, shareholders approved a change of name of the Company to Gungnir. The Company proposes to change the name of Anglo Swiss to Gungnir and to consolidate the outstanding capital of the Company on the basis of one (1) post-consolidated common share for every five (5) currently issued and outstanding common shares (the "Consolidation"). There are currently 184,656,900 common shares issued and outstanding. Following the Consolidation and the change of name, there will be approximately 36,931,380 common shares outstanding. An aggregate of 6,517,303 post-consolidated common shares will be issued for the Gungnir Acquisition. After giving effect to the Gungnir Acquisition and before giving effect to the Offering referred to below, there will be 43,448,683 post-consolidated common shares issued and outstanding. The Company will commence trading under the new name on a post-consolidated basis at the opening of the market on Friday June 20, 2014. The Company's new CUSIP number is 40281L109 and its new trading symbol is "GUG".

The Company also wishes to announce that, conditional upon completion of the Consolidation, it will undertake a non-brokered private placement financing to raise proceeds of up to $100,000 (the "Offering") to provide it with additional funds for exploration work. All references to the number of securities and the prices of securities below are premised on having effected the Consolidation.

The Company is offering up to 2,000,000 units (the "Units") of the Company at a price of $0.05 per Unit (based upon the last trading price of $0.01 multiplied by the consolidation ratio of 5:1) for gross proceeds of up to $100,000. Each Unit will consist of one (1) post-consolidated common share of the Company priced at $0.05 and one (1) warrant (a "Warrant"). Each Warrant entitles the holder to acquire an additional post-consolidated common share for thirty-six (36) months from the closing of the Offering at a price of $0.05 per common share.

Insiders of the Company may subscribe for up to $50,000 of the Offering. The insider private placements are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ("MI 61-101") by virtue of the exemptions contain in section 5.5(a) and 5.7(1) (a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company to be issued to the insiders does not exceed 25% of its market capitalization.

All securities issued pursuant to the above referenced private placement and the Gungnir Acquisition are subject to a statutory four month hold period and regulatory approval.


Jari Paakki, P.Geo., CEO

About Anglo Swiss:

Anglo Swiss Resources Inc. is a Canadian-based, TSX-V listed company focused primarily on gold exploration. The Company holds a $5M royalty stream set at five (5) annual $1M advanced payments starting in 2017 from the sale of the Kenville Gold Property. Anglo Swiss has recently entered into a share exchange agreement to acquire gold exploration properties in Sweden and plans to formally complete the acquisition and commence exploration in Sweden. The Company also holds the Blu Starr Flake Graphite property in southeastern BC and the Lansdowne House nickel-copper property in northern Ontario. Further information about the Company may be found at or at

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

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