Swift Closes Private Placement
Swift Resources Inc. (TSX VENTURE:SWR) has reported that further to the Company’s news release dated January 4, 2011, the Company has closed its non-brokered private placement for Non Flow through Units (NFT).
The total placement consisted of a total of 2,175,000 Non-flow-through Units at a price of $0.10 per share for gross proceeds of $217,500 and received TSX-V approval on March 7, 2011.
Each NFT Unit consisted 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 $0.15 for a period of 24 months from the date of issue of the warrant. The proceeds from the NFT Unit private placement will be used towards general working capital.
The Company further announces an additional Non-Brokered Private placement of up to 2,500,000 Units at a price of $0.10 per Unit for gross proceeds of $250,000. 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 $0.15 for a period of 2 years from the date of issue of the Warrant.
All securities issued will be subject to a four-month hold period. The offering is subject to the approval of the TSX Venture Exchange (the “TSX”) and a finder’s fee may be payable in accordance with the policies of the TSX.
Swift Resources Inc. is a mineral exploration company advancing the Castlegar Gold Project in south-western British Columbia.
Posted March 9, 2011
