KWG Resources Inc.

KWG Resources Inc.

March 27, 2007 10:20 ET

KWG Closed $500,000 in Private Placement With the MineralFields Group

MONTREAL, CANADA--(CCNMatthews - March 27, 2007) - KWG Resources Inc. (TSX VENTURE:KWG) reports that the Company has completed a private placement of 10,000,000 units by way of private placement to a fund within the MineralFields Group, raising gross proceeds of $500,000. Each unit consists of one flow-through common share and one common share purchase warrant. Each common share purchase warrant will entitle the holder to purchase one common share until March 22, 2009 at $0.10 per share. In connection with the transaction, Limited Market Dealer Inc., was paid a cash diligence fee of $25,000, was issued 500,000 common shares as finder's fee and 500,000 options. Each warrant is exercisable into one unit having the same terms and conditions as the units issued in the private placement, at a price of $0.05 until March 23, 2009. All securities issued pursuant to this private placement have a hold period of four months ending July 23, 2007. Proceeds of the private placement will be used to fund the exploration program on the MacFadyen property.

About MineralFields and Pathway

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about the MineralFields Group is available at

About the KWG program

As recently announced, KWG is now drilling the MacFadyen Kimberlites adjacent to the DeBeers Victor Diamond Mine, to recover adequate samples for indicator mineral confirmation tests as well as diamond population and grade analysis. For further information and recent news releases see

Shares issued and outstanding: 176,285,208

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
    514-866-6193 (FAX)
    KWG Resources Inc.
    Michel Cote
    514-866-6001 - Ext. 266
    514-866-6193 (FAX)