KWG Expands Board of Directors07 Sep 2016
TORONTO, ONTARIO–(Sept. 7, 2016) – The Board of Directors of KWG Resources Inc. (CSE:KWG)(FRANKFURT:KW6)(“KWG”) has resolved to increase its number from five to six and to appoint Bruce Reid to the new position. The Company also announces that Cynthia Thomas has resigned as a member of the Board and that Jennifer Boyle has been appointed to fill the vacancy.
Bruce Reid was previously a director of the Company and is the former Executive Chairman and, before that, Chief Executive Officer of Carlisle Goldfields Limited, a Canadian-based gold exploration and development company that was recently acquired by Alamos Gold Inc. He was previously the Founder, President and Chief Executive Officer of U.S. Silver Corp., the largest pure silver producer in the United States and, prior to that, he was Senior Vice President of Mining Corporate Finance at Mackie Research Capital Corporation, a Canadian investment firm. His experience in corporate finance and in the mining and mineral exploration industry extends over more than 35 years following graduation with a B.Sc. in Geology from the University of Toronto and a finance degree from the University of Windsor.
Jennifer Boyle is currently the Head of Global Corporate Finance and General Counsel for a broker-dealer and institutional forex firm, and was a director of Carlisle Goldfields Limited until its acquisition by Alamos Gold Inc. She was formerly the Chief Executive Officer of St. Eugene Mining Corporation prior to its acquisition by Claude Resources Inc. and then became the President and Chief Executive Officer of Satori Resources Inc., a spin-out company created from the acquisition of St. Eugene. Previously, she was a co-founding Director and Executive VP of Canadian Royalties Inc. Ms. Boyle practiced securities law prior to building a career on the mining issuer side of the business.
Chairman of the KWG Board of Directors, Doug Flett, said, “While we welcome Jennifer Boyle and Bruce Reid’s return, we regret Cynthia Thomas’s departure. Since joining us to Chair the Special Committee, struck to meet the Cliffs Natural Resources hostile take-over bid launched on the Victoria Day holiday weekend in 2010, Cynthia has been a steadfast member of our Board. We will miss her erudition and commitment and thank her warmly for her contributions over these more than six often turbulent years.”
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 CCC 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 intellectual property interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. KWG subsidiary Muketi Metallurgical LP is prosecuting two chromite-refining patent applications in Canada, China, India, Indonesia, Japan, Kazakhstan, South Africa, South Korea, Turkey, and USA. The filings have been receipted in each of those jurisdictions.
Shares issued and outstanding: 961,320,281