By Laura Lutz
Des Moines, Oct. 11 - KWG Resources Inc. arranged a C$2.25 million private placement of units.
The company plans to sell C$750,000 of non flow-through units at C$0.065 each and C$1.5 million of flow-through units at C$0.08 each.
Northern Securities Inc., the agent, has a greenshoe for up to 20% of the deal size.
Each non flow-through unit will consist of one non flow-through share and one non flow-through warrant. Each warrant from the non flow-through units will be exercisable at C$0.10 for two years.
Each flow-through unit will consist of one flow-through share and one non flow-through warrant. Each warrant from the flow-through units will be exercisable at C$0.12 for two years.
KWG is a mineral exploration company based in Montreal.
Issuer: | KWG Resources Inc.
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Issue: | Units of one non flow-through share and one non flow-through warrant; units of one flow-through share and one non flow-through warrant
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Amount: | C$2.25 million
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Agent: | Northern Securities Inc.
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Pricing date: | Oct. 11
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Stock symbol: | TSX Venture: KWG
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Stock price: | C$0.075 at close Oct. 11
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Non flow-through units
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Amount: | C$750,000
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Price: | C$0.065
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Warrants: | One per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.065
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Flow-through units
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Amount: | C$1.5 million
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Price: | C$0.08
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Warrants: | One per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.08
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