|By Marketwired .||
|January 3, 2014 03:39 PM EST||
TORONTO, ONTARIO -- (Marketwired) -- 01/03/14 -- KWG Resources Inc. (TSX VENTURE: KWG) ("KWG") has received conditional listing approval for an increase to $2,500,000 of its private placement of flow-through units ("Units") which is extended to February 7, 2014. Each Unit comprises one flow-through treasury share and one warrant which may be exercised to acquire a further flow-through share for $0.10 at any time within three years. The Units may be acquired by qualified investors for a subscription of $0.05 each.
KWG closed another tranche of the private placement consisting of 2,150,000 Units for gross proceeds of $107,500 bringing total proceeds for the private placement to $2,255,000.
About KWG: KWG has a 30% interest in the Big Daddy chromite deposit and the right to earn 80% of the Black Horse chromite where resources are being defined by a drilling program expected to resume early next year. KWG also owns 100% of Canada Chrome Corporation 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.
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.
Shares issued and outstanding: 736,687,273
KWG Resources Inc.