Shares Of KWG Unit Debut Diamonds Listed By CNSX
30 Sep 2011, Posted by in 2011Toronto, Ontario, Canada – September 30, 2011 – Debut Diamonds Inc. (CNSX: DDI) (“Debut”)has been notified by the Canadian National Stock Exchange that its application for listing has been approved. The shares will trade under the symbol DDI and will be posted for trading on a date to be announced. KWG Resources Inc. (TSXV: KWG) (“KWG”) has previously announced its intention to distribute all of its shares of Debut to those KWG shareholders of record on a date to be established. In order to distribute to KWG’s shareholders a return of capital dividend of six shares of Debut for each 100 KWG shares held, KWG has sought an exemption from the Securities Administrators in its reporting jurisdictions, to include recently acquired shares of Debut which would otherwise be subject to a hold period. KWG has also made application to the Canada Revenue Agency for an advance ruling to confirm for its shareholders the return of capital nature of the proposed distribution. Shareholders of KWG will be notified of a record date for the distribution, when the ruling and exemption orders are received.
About KWG: KWG has a 28% interest in the Big Daddy chromite deposit and may earn an additional 2% interest in it under an option agreement to create a joint venture with Cliffs Natural Resources Inc. KWG also owns 100% of CCC 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 where the Trans Canada line of the Canadian National Railway can be connected.
About Debut: Debut is a development stage company with joint venture and wholly owned properties and projects in northern Ontario. The diamond claim groups include the previously discovered MacFadyen Kimberlites and the Pele, Victor West, and Uniform Surround claim blocks adjoining the De Beers’ Victor Mine. The Diagnos Initiative and Kyle Kimberlites are within and adjacent to the Ring of Fire. The company’s exploration initiatives also include the Wawa Project, Nakina Option and Canada Chrome joint venture.
For further information, please contact:
Bruce Hodgman
Communications Director
Tel: (416) 642-3575
[email protected]
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.
