KWG Resources Inc.
TSX VENTURE : KWG

KWG Resources Inc.

August 23, 2007 14:59 ET

KWG Settles Lawsuit

MONTREAL, CANADA--(Marketwire - Aug. 23, 2007) - KWG Resources Inc. (TSX VENTURE:KWG) has reached an agreement with four former employees of its former subsidiary Far East Gold Ltd. They had brought an action in Quebec Superior Court claiming $1,100,000 for unpaid salaries. The Company has agreed to issue, subject to regulatory approvals, an aggregate of 2,400,000 common shares from treasury in full and final settlement of all claims. In accordance with the policy of the TSX Venture Exchange, the shares will be subject to a hold period of four months.

Shares issued and outstanding: 185,744,578

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
    MICHEL COTE
    Director
    514-866-6001 - Ext. 266
    514-866-6193
    www.kwg-resources.com