KWG Resources Inc.
TSX VENTURE : KWG

KWG Resources Inc.

January 03, 2007 16:10 ET

KWG Announces Closing of Private Placement

MONTREAL, CANADA--(CCNMatthews - Jan. 3, 2007) - KWG Resources Inc. (TSX VENTURE:KWG) is pleased to announce that it has completed a private placement financing of 5,500,000 units at a price of $0.05 per unit for gross proceeds of $275,000. Each unit is comprised of one common share issued on a flow-through basis and one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one common share, not being a flow-through common share, of the Company at an exercise price of $0.10 at any time until December 29, 2008.

All securities issued pursuant to the private placement are subject to a four (4) month hold period expiring April 30, 2007.

KWG will use the net proceeds from the sale of the units to pursue further exploration on its MacFadyen property.

Shares issued and outstanding: 159,585,208

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
    416-642-3575
    514-866-6193 (FAX)
    or
    KWG Resources Inc.
    MICHEL COTE
    Director
    514-866-6001 - Ext. 266
    514-866-6193 (FAX)
    www.kwg-resources.com