Montréal, Canada – KWG Resources Inc. (“KWG“) announces that Spider Resources Inc. (“Spider“) has terminated the combination agreement among KWG, its wholly-owned subsidiary, 7569076 Canada Inc., and Spider dated as of June 11, 2010 and has paid to KWG a break-fee of $2,300,000 in connection…
News
Retraction Of Independent Valuations
30 Jun 2010Montréal, Canada – At the request of IIROC, KWG Resources Inc. (“KWG“) is retracting in its entirety the disclosure of the valuations contained in its June 30, 2010 press release entitled “KWG Reports Two Independent Valuation Opinions” (the “Valuations Press Release“), which is based on…
Spider And KWG Announce Discovery Of A New Kimberlite On Diagnos Initiative Project “Ring Of Fire” Area
29 Jun 2010Spider Resources Inc. (“Spider” – TSXV:SPQ) and KWG Resources Inc. (“KWG” – TSXV:KWG) are pleased to announce the discovery of a new kimberlite located on the eastern edge of the “Ring of Fire” exploration area and in the vicinity of the Kyle swarm of kimberlites. The…
Montréal, Canada – KWG Resources Inc. (KWG) has received notification from Spider Resources Inc (Spider) that Cliffs Natural Resources Inc (Cliffs) has amended its offer in response to Spider accepting KWG’s matching offer, as announced on June 25, 2010 in the joint press release of…
KWG Resources Inc. (“KWG” – TSXV:KWG) and Spider Resources Inc. (“Spider” – TSXV:SPQ) announce that Spider has determined that the offer made to it by KWG (the “New KWG Offer”) proposing certain amendments to the terms of the combination agreement among KWG, its wholly-owned subsidiary,…
Montréal, Canada – June 22, 2010 – KWG Resources Inc. (“KWG”) is pleased to announce that it has received conditional approval from the TSX Venture Exchange (“TSXV”) with respect to the previously announced business combination (the “Amalgamation”) with Spider Resources Inc. (“Spider”). Pursuant to the Amalgamation,…
KWG Addresses Notice Of Superior Proposal Respecting Proposed Combination Of KWG And Spider
18 Jun 2010Montréal, Canada – June 18, 2010 – KWG Resources Inc. (“KWG” or the “Company”) has received notification from Spider Resources Inc (Spider) that Cliffs Natural Resources Inc (Cliffs) has made a Spider Alternative Proposal (as defined in the combination agreement among KWG, its wholly-owned subsidiary, 7569076 Canada…
KWG Resources Inc. And Spider Resources Inc. Enter Into Definitive Business Combination Agreement
14 Jun 2010Montréal, Canada – KWG Resources Inc. (“KWG” or the “Company”) is pleased to announce the signing of a definitive business combination agreement (the “Combination Agreement“) with Spider Resources Inc. (“Spider“) pursuant to which KWG and Spider propose to complete a business combination (the “Amalgamation“). The…
KWG’s Formal Valuation Commences
08 Jun 2010Montréal, Canada – June 8, 2010 – KWG Resources Inc. (“KWG” or the “Company”) announces that the previously announced formal valuation of the Company’s common shares has been commenced by the independent valuator, Cormark Securities Inc.. In a letter delivered by Cliffs to KWG on June…
Montréal, Canada – June 3rd, 2010 – The Special Committee of the Board of Directors of KWG Resources Inc. (“KWG” or the “Company”) announces that it has engaged Cormark Securities Inc. to complete a formal valuation of the Company’s common shares in response to Cliffs…