August 05, 2016 15:24 ET
TORONTO, ONTARIO--(Marketwired - Aug. 5, 2016) - KWG Resources Inc. (CSE:KWG)(FRANKFURT:KW6) ("KWG") has filed a Notice of Sale from Control with respect to all of its 144,630,000 common shares of affiliate Debut Diamonds Inc. (CSE: DDI) ("Debut"). The notice provides that the shares will be sold either in whole or in part and either privately or through the facilities of the Canadian Securities Exchange stock market.
Debut has both joint-ventured and wholly-owned diamond exploration properties that include the previously discovered MacFadyen and Good Friday kimberlite pipes within claims contiguous to the DeBeers claim block containing the Victor Diamond Mine. Debut also has an interest in the diamond bearing Kyle kimberlites about 100 kilometers to the west. See more at: http://www.debutdiamonds.com/docs/2015/01/debut-diamonds-inc-completes-private-placement-3/#sthash.CuirzLLh.dpuf
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. 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.
Shares issued and outstanding: 961,320,281
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