TORONTO, ONTARIO--(Marketwired - Feb. 9, 2017) - KWG Resources Inc. (CSE:KWG) (FRANKFURT: KW6) ("KWG" or the "Company") announces a proposed private placement consisting of up to 7,500,000 units (each a "Unit") at a price of $0.021 per Unit for aggregate gross proceeds of up to $157,500, subject to necessary board and regulatory approvals, with each Unit consisting of one common share of the Corporation (a "Common Share") and one full warrant (a "Warrant"), each Warrant entitling the holder to purchase one Common Share for $0.05 until 60 months from the date of issuance of the Warrant. The Company applied for and was granted relief from the Canadian Securities Exchange's minimum price rule of $0.05.
KWG is the Operator of the Black Horse Joint Venture after acquiring a vested 50% interest through Bold Ventures Inc. which is carried for 10% (20% of KWG's equity in the JV) by KWG funding all exploration expenditures. KWG also owns 100% of CCC which has staked claims and conducted a surveying and soil testing program, originally for the engineering and construction of a railroad to the Ring of Fire from Aroland, Ontario. KWG subsequently acquired intellectual property interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. KWG subsidiary Muketi Metallurgical LP is prosecuting two chromite-refining patent applications in Canada, China, India, Indonesia, Japan, Kazakhstan, South Africa, South Korea, Turkey, and USA. The filings have been receipted in each of those jurisdictions.
Forward-Looking Statements: Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release
Shares issued and outstanding: 966,320,281