SOURCE: Sweetwater Resources, Inc.

June 18, 2012 09:28 ET

Sweetwater Resources Announces US $600,000 Non-Broker Private Placement

LAS VEGAS, NV--(Marketwire - Jun 18, 2012) - Sweetwater Resources Inc. (the "Company" or "Sweetwater") (OTCBB: SWTR) is pleased to announce the closing of a non-brokered private placement of 1,200,000 common shares at US $0.50 per share for gross proceeds equaling $600,000 with a warrant priced at $0.75 per share to purchase 1,200,000 shares. The proceeds will be used for general corporate purposes to support the Company's growth and to advance the Company's technology.

The securities offered and sold in the private placement will not be registered under the Securities Act of 1933, as amended (the "Act"), and unless registered under the Act, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Act and in each case only in accordance with applicable securities laws.

About Sweetwater Resources Inc.
Sweetwater has acquired certain assets to fully commercialize a proprietary, cost-efficient and high-volume diamond production method to provide industrial quality diamonds. The Company's patented technology enables the production of "cultured" diamonds that are chemically, atomically, and structurally identical to natural diamonds. The Gemological Institute of America has tested the Company's "cultured" diamonds and has confirmed they are diamonds according to their testing protocols.

Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, use of proceeds of the private placement. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new technology and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

On behalf of the Board of Directors,
Mr. Alvin Snaper, President

Contact Information

  • For further information, please contact:
    American Capital Ventures
    Tel: 1-305-918-7000