THUNDER BAY, ONTARIO--(Marketwired - May 26, 2014) - Media are invited to attend a press conference hosted by KWG Resources (TSX VENTURE:KWG) at 11:15 a.m. on the front steps of the Valhalla main lobby entrance, Monday, May 26, 2014. The press conference will discuss the details of the company's Ring Of Fire - Northern Ontario Job Creation Plan, as outlined in its proposed bill "Northland Development Corporation Act".
- Ontario already has a Northern Development Corporation. It is the Ontario Northland Transportation Commission (ONTC).
- The principal operating asset of the ONTC is the Ontario Northland Railroad (ONR), which has become starved of freight haulage.
- The discoveries of chromite and nickel in the Ring of Fire could create the potential for much heavy-haulage freight business with which the ONR might become economically viable.
- The ONTC could be governed by residents of Northern Ontario, raise project financing via capital markets to add to heritage infrastructure facilities desired by northern residents of Ontario whose communities it serves.
- This would enable the important participation by those communities, many of which are First Nations.
- This would enable development to be undertaken with the necessary social licence together with the discipline of the capital markets, rather than from the public purse.
An overview of the proposed bill can be viewed at http://www.northlanddevelopmentcorporation.com.
The proposed bill can be viewed at http://www.northlanddevelopmentcorporation.com/ndca.html.
A PDF of the proposed bill can be viewed at http://www.northlanddevelopmentcorporation.com/pdf/Northland_Development_Corporation_Act.pdf.
|Date: Monday, May 26, 2014
|Time: 11:15 a.m.
|Location: Front steps of the Valhalla main lobby entrance
Notable attendees include:
Frank Smeenk, President & CEO, KWG Resources
About KWG Resources
KWG Resources Inc ("KWG") is an exploration stage company that is participating in the discovery, delineation and development of chromite deposits in the James Bay Lowlands of Northern Ontario. These deposits are globally significant source of chromite which may be refined into ferrochrome, a principal ingredient in the manufacture of stainless steel. The company's accidental discovery of the McFaulds Lake copper-zinc volcanogenic massive sulphide deposits in 2002 precipitated a staking rush that defined the "Ring of Fire". For more information visit: http://www.kwgresources.com