KWG Resources Inc.
TSX VENTURE : KWG

KWG Resources Inc.

February 22, 2007 16:37 ET

KWG to Raise up to $750,000 in Private Placement With the Mineralfields Group

MONTREAL, CANADA--(CCNMatthews - Feb. 22, 2007) - KWG Resources Inc. (TSX VENTURE:KWG) has engaged Limited Market Dealer Inc. as a finder for a private placement with MineralFields of up to $750,000 of flow-through treasury units. Subject to regulatory approval, each unit will be comprised of one flow-through share and one warrant entitling its holder to purchase one KWG treasury share for $0.10 at any time within 24 months. The units will be priced at $0.05 each. Limited Market Dealer Inc. will be paid a finder's fee of 5% of the value of the placement in treasury shares of KWG at $0.05 each, plus warrants equal to 10% of the placement. Each such finder's warrant will entitle the finder to acquire a unit comprised of one share and one warrant for $0.05 at any time within 24 months; each warrant exercisable at $0.10 during the same 24 month period.

About MineralFields and Pathway

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about the MineralFields Group is available at www.mineralfields.com

About the KWG program

As recently announced, KWG is now drilling the MacFadyen Kimberlites adjacent to the DeBeers Victor Diamond Mine, to recover adequate samples for indicator mineral confirmation tests as well as diamond population and grade analysis. For further information and recent news releases see www.kwgresources.com.

Shares issued and outstanding: 165,085,208

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