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KWG Announces Private Placement Terms

ID: 1425218
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(businesspress24) - TORONTO, ONTARIO -- (Marketwired) -- 03/31/16 -- KWG Resources Inc. (CSE: KWG)(FRANKFURT: KW6) ("KWG") was granted a waiver by the Canadian Securities Exchange of its minimum share issuance price policy in order to complete a private placement of 75 million units for $1,500,000. Each unit will comprise one new treasury share and one warrant; each warrant may be exercised to acquire a further treasury share for $0.05 at any time within five years from closing. The private placement has been largely subscribed and is expected to close next week.

About KWG:

KWG has a 30% interest in the Big Daddy chromite deposit and the right to earn 80% of the Black Horse chromite where resources are being defined. KWG also owns 100% of CCC which has staked claims and conducted a surveying and soil testing program, originally for the engineering and construction of a railroad to the Ring of Fire from Aroland, Ontario. KWG subsequently acquired intellectual property interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. The Company is prosecuting patent applications for both the direct reduction method and for a method of producing high purity chromium metal by continuous smelting.

Shares issued and outstanding: 871,418,968

Contacts:
KWG Resources Inc.
Bruce Hodgman
Vice-President
416-642-3575



More information:
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Date: 03/31/2016 - 16:30
Language: English
News-ID 1425218
Character count: 2982
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Firma: KWG Resources Inc.
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Stadt: TORONTO, ONTARIO
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