KWG Board Awards Stock Options Exercisable at $0.0518 Sep 2015
TORONTO, ONTARIO–(Sept. 18, 2015) – The Board of Directors of KWG Resources Inc. (CSE:KWG)(FRANKFURT:KW6) (“KWG”) has granted options to purchase 40,714,000 shares under its Incentive Stock Option Plan. The options are exercisable for 5 years at $0.05 which is the minimum price permitted under the Company’s listing agreement with the Canadian Securities Exchange. Options to purchase 11,185,000 shares were granted to four Directors, options to purchase 5,389,000 shares were granted to a Director and Officer, options to purchase 7,840,000 shares were granted to two Officers, options to purchase 11,050,000 shares were granted to three employees, and options to purchase 5,250,000 shares were granted to eight consultants.
KWG has a 30% interest in the Big Daddy chromite deposit and the right to earn 80% of the Black Horse chromite where resources are being defined. KWG also owns 100% of Canada Chrome Corporation which has staked claims and conducted a surveying and soil testing program, originally for the engineering and construction of a railroad to the Ring of Fire from Aroland, Ontario. KWG subsequently acquired patent interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. The company has determined that the reduction method can be employed to metalize finely ground chromite which could also be recovered from slurry delivered to Aroland in an underground pipeline constructed within the Canada Chrome claims.
Shares issued and outstanding: 845,147,718