$2 Million Private Placement Approval Extended04 Oct 2013
Toronto, Canada, October 4, 2013 – KWG Resources Inc. (TSX-V: KWG) (“KWG”) has been granted a further extension of the conditional listing approval to complete the previously announced private placement of units of flow-through shares and share purchase warrants. The TSX Venture exchange has given the company until October 21, 2013 to complete the balance of the placement of units. A first tranche of $300,000 has closed and a second tranche of $250,000 has been subscribed. Each unit comprises one flow-through treasury share and one warrant which may be exercised to acquire a further flow-through share for $0.10 at any time within three years. The units may be acquired by qualified investors for a subscription of $0.05 each.
About KWG: KWG has a 30% interest in the Big Daddy chromite deposit and the right to earn 80% of the Black Horse chromite deposit. KWG also owns 100% of Canada Chrome Corporation which has staked claims and conducted a $15 million surveying and soil testing program for the engineering and construction of a railroad to the Ring of Fire from Exton, Ontario.
For further information, please contact:
Bruce Hodgman, Vice-President, KWG Resources Inc. at 416-642-3575 Ext103
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.