TORONTO, ONTARIO--(Marketwired - Feb. 9, 2017) - KWG Resources Inc. (CSE:KWG) (FRANKFURT: KW6) ("KWG" or the "Company") announces a proposed private placement consisting of up to 7,500,000 units (each a "Unit") at a price of $0.021 per Unit for aggregate gross proceeds of up to $157,500, subject to necessary board and regulatory approvals, with each Unit consisting of one common share of the Corporation (a "Common Share") and one full warrant (a "Warrant"), each Warrant entitling the holder to purchase one Common Share for $0.05 until 60 months from the date of issuance of the Warrant. The Company applied for and was granted relief from the Canadian Securities Exchange's minimum price rule of $0.05.
About KWG:
KWG is the Operator of the Black Horse Joint Venture after acquiring a vested 50% interest through Bold Ventures Inc. which is carried for 10% (20% of KWG's equity in the JV) by KWG funding all exploration expenditures. 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.
