Toronto, Ontario--(Newsfile Corp. - July 30, 2025) - KWG Resources Inc. (CSE: CACR) (CSE: CACR.A), which carries on business as The Canadian Chrome Company ("CCC", "KWG" or the "Company") is pleased to announce that pursuant to this news release the Company is giving notice to all holders of Series 2024 convertible debentures (the "Debentures") that, as the first anniversary of the date of first issuance of the Debentures will occur on Saturday, August 2, 2025, the Company has elected to convert all principal and all accrued and unpaid interest owing on the Debentures into shares and warrants on the next following business day, Tuesday, August 5, 2025 (the "Conversion Date"). As of the Conversion Date, the aggregate of all principal and interest owing on the Debentures will be $2,543,645.70.
Under the terms of the Debentures, KWG has the option, exercisable at any time after August 2 2025, to convert the principal amount owing under the Debentures, together with accrued and unpaid interest on the amount being converted, into units (each a "Unit") at a price of $1.20 per Unit, with each such Unit being comprised of one (1) multiple voting share in the capital of the Company (each a "Multiple Voting Share") and one (1) share purchase warrant (each a "Warrant"), with each such Warrant enabling its holder to acquire one (1) further Multiple Voting Share from treasury upon payment of $1.20 per share at any time on or before the earlier of: (i) March 31, 2029, or (ii) two (2) business days after completion of a take-over bid or a merger, amalgamation, arrangement or other form of business combination as a result of which the shareholders of the Company immediately prior to the completion of such bid or business combination do not hold a majority of votes attaching to the voting securities of the Company or of the resulting issuer, as the case may be, or do not have the power to elect a majority of the directors of the Company or of the resulting issuer, as the case may be, after completion of such bid or business combination.
By issuance of this news release, KWG announces and gives notice to all holders of Debentures that, on the Conversion Date, KWG will complete the conversion of all of the principal amount of $2,500,150 of Debentures currently outstanding and $43,495.70 of accrued unpaid interest earned from April 1, 2025 to August 5, 2025, aggregating $2,543,645.70, into 2,119,699 Multiple Voting Shares and 2,119,699 Warrants.
About The Canadian Chrome Company
KWG, which carries on business as The Canadian Chrome Company, is an exploration stage company that is focused on identification, acquisition, consolidation, exploration, development and evaluation of large-scale deposits of minerals including chromite in the Ring of Fire, as well as other base metals and strategic minerals and, where applicable, in the development of transportation and electrification links to access remote areas where these deposits may be located. The Canadian Chrome Company is a registered business style of KWG Resources Inc.
For further information, please contact:
Bruce Hodgman, Vice-President: 416-642-3575 ~ This email address is being protected from spambots. You need JavaScript enabled to view it.
Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and KWG disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct.
Disclaimer
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.
