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.
For further information, please contact:
| Bruce Hodgman, Communications Director Direct: 416-646-1374 [email protected] |
Michel Côté 514-866-6001 |
Or visit our website: www.kwgresources.com
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 news release
Download In English PR48_en Nov 25 2009
Download En Francais PR48_fr Nov 25 2009
