KWG Resources Inc.
TSX VENTURE : KWG

KWG Resources Inc.

September 14, 2007 16:20 ET

KWG Resources Inc.: Proposed Private Placement and Grant Of Options

MONTREAL, QUEBEC--(Marketwire - Sept. 14, 2007) - KWG RESOURCES INC. (TSX VENTURE:KWG) announces a proposed private placement of a maximum of 10,000,000 units at $0.05 per unit. Each unit will be comprised of one common share and one common share purchase warrant entitling the holder thereof to subscribe one additional common share of the Company at a price of $0.10 at any time within a two-year period following the closing. The funds will be used for working capital purposes.

The Company also announces that the board of directors granted a total of 1,715,000 options to purchase common shares in the Company to its directors and 75,000 options to officers who are not directors of the Company. In addition, 310,000 options have been granted to employees and consultants of the Company. All options have an exercise price of $0.10 and an exercise period of five years and a hold period of four months from the day of the grant.

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
    416-642-3575
    514-866-6193 (FAX)
    or
    KWG Resources Inc.
    Michel Cote
    Director
    514-866-6001 Ext. 266
    514-866-6193 (FAX)
    www.kwgresources.com