KWG Postpones Annual And General Meeting Of Shareholders04 Jun 2013
Montreal, Canada – June 4, 2013 – KWG Resources Inc. (TSXV: KWG) has postponed until June 26, 2013 the convening of its Annual and General Meeting of Shareholders at 11:00 a.m. (local time) at Suite 2300, TD Waterhouse Tower, 79 Wellington Street West, Toronto, Ontario (the “Meeting”).
The purposes of the Meeting are described in the Notice of Annual and Special Meeting of Shareholders mailed to shareholders May 15, 2013 and available on SEDAR at www.sedar.com. The Notice of Meeting sets out a number of matters that shareholders are being asked to vote on, including two proposed changes to KWG’s Articles of Incorporation.
KWG has many shares outstanding and for some years these have traded in a range of as little as $0.04 per share to as much as $0.14 per share. It is proposed to let all shareholders wishing to do so acquire with each fifty of their present shares one new multiple-voting share, provided that these may be converted back into the fifty subordinate voting shares at any subsequent time of their choosing.
Shareholders are also being asked to approve a change of jurisdiction so that the law governing KWG’s constitution will be the federal Canada Business Corporations Act. In addition, shareholders are being asked to confirm an Advance Notice By-Law recently adopted by the Board of Directors, as previously published. KWG has received conditional approval from the TSX Venture Exchange for the changes to its Articles of Incorporation and the Advance Notice By-Law.
The Company’s Board of Directors determined that this additional time to solicit proxies could enable the passing of these special resolutions by the required two-thirds of the number of shares voting.
About KWG: 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 in a drilling program now under way. 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.
This news release may contain “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of United States federal securities legislation (collectively, “forward-looking statements”). All statements other than statements of historical facts included in this press release, including statements regarding our industry and our prospects, plans, financial position and business strategy may constitute forward-looking statements. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industries in which we operate as well as beliefs and assumptions made by our management. Such statements include, in particular, statements about our plans, prospects, financial position and business strategies. Words such as “may,” “will,” “expect,” “continue,” “intend,” “estimate,” “anticipate,” “plan,” “foresee,” “believe” or “seek” or the negatives of these terms or variations of them or similar terminology are intended to identify such forward-looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these statements, by their nature, involve risks and uncertainties and are not guarantees of future performance. Such statements are also subject to assumptions concerning, among other things: our anticipated business strategies; anticipated trends in our business; and our ability to continue to control costs. We can give no assurance that these estimates and expectations will prove to have been correct. Actual outcomes and results may, and often do, differ from what is expressed, implied or projected in such forward-looking statements, and such differences may be material. For additional information regarding some important factors that could cause actual results to differ materially from those expressed in these forward-looking statements and other risks and uncertainties, and the assumptions underlying the forward-looking statements, you are encouraged to read statements concerning risks located in the Corporation’s Management Discussion and Analysis for the year ended December 31, 2012 and the other factors contained in our filings with the Canadian securities regulators. Each of these forward-looking statements speaks only as of the date of this press release. We will not update these statements unless applicable securities laws require us to do so.
For further information, please contact:
Bruce Hodgman, Vice-President
416-642-3575 • firstname.lastname@example.org
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.