December 31, 2012 09:55 ET
MONTRÉAL, QUEBEC--(Marketwire - Dec. 31, 2012) - KWG Resources Inc. (TSX VENTURE:KWG) ("KWG" or the "Company") has completed a non-brokered private placement (the "Placement") of 24,398,332 common shares of the Company issued on a "flow-through" basis at a price of $0.06 per share for aggregate gross proceeds of $1,463,900. The proceeds from the Placement will be used for eligible flow-through exploration expenses and will be renounced for the 2012 taxation year. Marquest Capital Markets received a cash finder's fee in the amount of $87,834 as well as a fee in the amount of $2,825 (inclusive of tax) for certain corporate finance and due diligence services provided to KWG in connection with the Placement.
The shares issued in the Placement are subject to a hold period expiring on April 29, 2013.
Shares issued and outstanding: 691,577,273
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.
KWG Resources Inc.Bruce HodgmanVice-President416email@example.com
See all RSS Newsfeeds