TORONTO, ONTARIO--(Marketwired - March 5, 2014) - KWG Resources Inc. (TSX VENTURE:KWG) ("KWG") announces that it has acquired 3,350,000 Common Shares in the capital of GoldTrain Resources Inc. ("GoldTrain" or the "Company") at a price of $0.02 per share in settlement of $67,000 of debt owed by GoldTrain.
As a result, KWG now owns 10,634,000 Common Shares representing approximately 18.03% of the issued and outstanding Common Shares of the Company.
KWG has acquired the securities for investment purposes and has no present intention of acquiring additional securities of GoldTrain. Depending upon its evaluation of the business, prospects and financial condition of GoldTrain, the market for GoldTrain's securities, general economic and tax conditions and other factors, KWG may acquire more or sell some or all of its securities of GoldTrain.
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 by a drilling program currently under way. KWG also owns 100% of Canada Chrome Corporation which has staked claims and conducted a $15 million surveying and soil testing program for the engineering and construction of a railroad to the Ring of Fire from Exton, Ontario.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Shares issued and outstanding: 748,812,273