TORONTO, ONTARIO--(Marketwired - Feb. 24, 2014) - KWG Resources Inc. (TSX VENTURE:KWG) ("KWG") announces that it has closed the last tranche of its previously announced flow-through private placement, the subscriptions to which totaled $2.33 million. The last tranche totaled 1,400,000 flow-through units at $0.05 each for gross proceeds of $70,000. Each unit comprises one flow-through treasury share and one warrant which may be exercised to acquire a further flow-through share for $0.10 at any time within three years. All securities issued are subject to a four-month hold period.
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: 747,412,273