KWG Private Placement24 Nov 2009
Montreal, Canada, November 24th, 2009 – KWG Resources Inc (TSXV: KWG) advises that its previously announced flow-through private placement is expected to raise $3 million from the sale of 46.2 million units. Each unit will be comprised of one flow-through share and one-half common share purchase warrant. Each whole warrant may be exercised to purchase one common share from treasury at a price of $0.10 at any time within one year. The placements are expected to close tomorrow.
About KWG Resources Inc:
KWG Resources is a mineral exploration company with extensive claim holdings in the James Bay Lowlands of Northern Ontario, Canada, where important discoveries of nickel and chrome have been made recently in the Ring of Fire. KWG has an equal joint venture interest in a large claim block in the central part of the discovery area, with Spider Resources Inc. The joint venture is developing the Big Daddy chromite deposit adjacent to the Black Thor and Black Label chromite discoveries of Freewest Resources. KWG holds a 1% net smelter royalty in all three deposits and has created Canada Chrome Corporation to pursue the development of them.
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