Swift Resources Inc.

Swift Resources Inc.

November 25, 2010 16:48 ET

Swift Resources Reprices Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 25, 2010) - Swift Resources Inc. (TSX VENTURE:SWR) -

Mr. Mike Elson reports


Swift Resources Inc. announces a non-brokered private placement of up to four million non-flow-through units at a price of 10 cents per unit for gross proceeds of $400,000. Each unit will consist of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the company at an exercise price of 15 cents for a period of 24 months from the date of issue of the warrant.

Additionally the company will also offer four million flow-through shares at a price of 12 cents per common share for gross proceeds of $240,000.

All securities issued will be subject to a four-month hold period. The offering is subject to the approval of the TSX Venture Exchange. A finder's fee may be payable in accordance with the policies of the TSX-V.

Proceeds from the flow-through portion of the private placement will be used toward the 2011 exploration program on the company's Castlegar properties and the remaining proceeds will be used toward general working capital.

Shares issued 17,460,539

SWR Close 2010-11-24 C$ 0.11

Contact Information

  • Swift Resources Inc.
    Investor Relations