KWG Resources Inc.
TSX VENTURE : KWG

KWG Resources Inc.

October 11, 2007 16:18 ET

KWG Engages Northern Securities to Place $2,250,000

MONTREAL, QUEBEC--(Marketwire - Oct. 11, 2007) - KWG RESOURCES INC. (TSX VENTURE:KWG) reports that it has engaged Northern Securities Inc as agent for the private placement of treasury units to fund its upcoming exploration programs. The offering will total $750,000 of units at $0.065 each and $1,500,000 of flow-through units at $0.08 each and will be made by the agent on a best efforts basis. Each unit will be comprised of one share and one warrant entitling its holder to purchase an additional share from treasury at $0.10 at any time within 2 years. Each flow-through unit will be comprised of one flow-through share and one-half share purchase warrant with each whole warrant entitling its holder to purchase an additional share from treasury at $0.12 at any time within 2 years. The agent has been granted a 20% over-allotment option and will be paid a cash commission of 7% and broker warrants, exercisable for two years, to acquire units or flow-through units equal to 10% of the number sold. Subject to regulatory approval, the transaction is scheduled to close

Shares issued and outstanding: 198,310,998

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Contact Information

  • KWG Resources Inc.
    FRANK C. SMEENK
    President and CEO
    416-642-3575
    514-866-6193 (FAX)
    www.kwgresources.com
    or
    KWG Resources Inc.
    MICHEL COTE
    Director
    514-866-6001 Ext. 266
    514-866-6193 (FAX)
    www.kwgresources.com