KWG Resources Inc.
TSX VENTURE : KWG

KWG Resources Inc.

January 25, 2006 11:05 ET

KWG Announces Conditional Listing Approval for $1Million Private Placement

MONTREAL, QUEBEC--(CCNMatthews - Jan. 25, 2006) - KWG Resources Inc. (TSX VENTURE:KWG) has received conditional listing approval from the TSX Venture Exchange for a non-brokered private placement of 20,000,000 Units for a total cash consideration of $1,000,000. Each Unit will comprise one non-flow-through common share and one common share purchase warrant exercisable at a price of $0.10 during a 24-month period following the closing of the placement. The proceeds will be added to the Company's working capital.

Appointment of a director

KWG is pleased to announce the appointment of Mr. Douglas M. Flett as a director of the Company, to fill the vacancy occasioned by the recent resignation of Mr. Jonathan Challis, of Seven Oaks, U.K. Mr. Flett is a lawyer and author and resides in Toronto.

Shares issued and outstanding: 124,872,408


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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