KWG Resources Inc.

KWG Resources Inc.

October 12, 2007 11:09 ET

KWG Completes $500,000 Private Placement

MONTREAL, CANADA--(Marketwire - Oct. 12, 2007) - KWG Resources Inc. (TSX VENTURE:KWG) reports that it has completed a private placement of 10,000,000 units for gross proceeds of $500,000. Each unit consists of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one common share at any time during a two year period at $0.10 per share. All securities issued pursuant to this private placement have a hold period of four months. Proceeds of the private placement will be used for working capital purposes.

Shares issued and outstanding: 198,310,998

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • KWG Resources Inc.
    Frank C. Smeenk
    President and CEO
    514-866-6193 (FAX)
    KWG Resources Inc.
    Michel Cote
    514-866-6001 - Ext. 266
    514-866-6193 (FAX)