By Devika Patel
Knoxville, Tenn., Aug. 20 - KWG Resources Inc. said it completed a C$1.44 million private placement of units.
The company sold C$437,500 of non flow-through units at C$0.05 each to Cliffs Greene BV. It also sold C$1 million of flow-through units at C$0.05 each.
Each non flow-through unit consists of one non flow-through share and one warrant. Each flow-through unit consists of one flow-through share and one warrant. Each warrant will be exercisable at C$0.10 for five years.
Proceeds will be used for exploration and working capital.
KWG is a mineral exploration company based in Montreal.
| Issuer: | KWG Resources Inc.
|
| Issue: | Units of one non flow-through share and one warrant; units of one flow-through share and one warrant
|
| Amount: | C$1,437,500
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.10
|
| Settlement date: | Aug. 20
|
| Stock symbol: | TSX Venture: KWG
|
| Stock price: | C$0.045 at close Aug. 20
|
| Market capitalization: | C$16.2 million
|
|
|
| Non flow-through units
|
| Amount: | C$437,500
|
| Units: | 8.75 million
|
| Investor: | Cliffs Greene BV
|
|
|
| Flow-through units
|
| Amount: | C$1 million
|
| Units: | 20 million
|
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