ASW: TSX.V
VANCOUVER, Nov. 6, 2012 /CNW/ - Anglo Swiss Resources Inc.
(ASW: TSX-V, ASWRF: PK) ("Anglo
Swiss" or the "Company") announces its Annual
General and Special Meeting of Shareholders (the "Meeting") will be
held on November 30, 2012. At the
Meeting, in addition to the election of directors and appointment
of auditors for the ensuing year, shareholders will be asked to
approve a consolidation of the Company's issued and outstanding
common shares at a ratio of up to five (5) to one (1). The Company
currently has an aggregate of 184,656,900 common shares issued and
outstanding. If the share consolidation were undertaken at the
ratio of 5 to 1, the issued and outstanding common shares would be
approximately 36,931,380. The Company also intends to change its
name in connection with the proposed share consolidation to "Golden
Libra Minerals Inc." or any other name deemed appropriate by the
board of directors.
The Company's board of directors are seeking
shareholder approval for a share consolidation to better position
the Company to finance future exploration activities. The board of
directors believe that the existing share structure may not be
conducive to completing additional equity financings, particularly
given the present difficult market conditions for junior
exploration companies, and that a combination of a consolidation of
shares and a new strategic acquisition will markedly improve the
Company's ability to grow and raise capital. The Company plans to
focus on optimizing value for its current properties and to use its
extensive industry experience to identify and acquire new
opportunities it believes will regenerate market interest in the
Company.
The proposed consolidation and name change are
subject to shareholder approval and acceptance for filing by the
TSX Venture Exchange and any other regulatory body having
jurisdiction. Additional information regarding the proposed
consolidation is provided in the management information circular
for the meeting. The information circular and other materials
relating to the meeting have been mailed to registered shareholders
and filed on SEDAR.
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
with current assets including its Kenville
Gold Mine and Blu Starr Flake
Graphite properties in southeastern BC, and its Lansdowne House, Ring of Fire
Nickel-Copper-PGE property in northwestern Ontario. Further information about the Company
may be found in the Company presentation 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.
SOURCE Anglo Swiss Resources Inc.