November 11, 2016 11:25 ET
TORONTO, ONTARIO--(Marketwired - Nov. 11, 2016) - KWG Resources Inc. (CSE:KWG)(FRANKFURT:KW6) ("KWG") has received approval from the Canadian Securities Exchange ("CSE") to extend to June 14th, 2018 as the expiry date for warrants issued in the private placement of units extending from June 14th, 2013 until November 18th, 2013. The private placement to accredited investors raised $2,148,000 by the sale of units comprising one share and one warrant, with each warrant entitling its holder to buy a further share from treasury at any time within three years upon payment of $0.10. A total of 11,560,000 of the warrants had expired prior to the application to CSE. For each holder of the remaining 25,896,000 warrants, the time within which they may be exercised will be extended to June 14th, 2018 upon their allocating two of each five such warrants to the earlier subscribers to the placement.
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.
KWG Resources Inc.Bruce HodgmanVice-President416email@example.com
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