By Devika Patel
Knoxville, Tenn., Oct. 15 - KWG Resources Inc. said it has boosted a private placement of units to C$3 million from C$2.25 million.
The company now plans to sell C$1.5 million, up from C$750,000, of non flow-through units at C$0.065 each. Its planned C$1.5 million of flow-through units at C$0.08 each remains unchanged.
As previously reported, 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.
Northern Securities will be paid a 7% cash commission and broker warrants, each exercisable for two years, to acquire a number of units equal to 10% of the number of units and flow-through units sold
KWG is a mineral exploration company based in Montreal.
| Issuer: | KWG Resources Inc.
|
| 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
|
| Amount: | C$2.25 million
|
| Agent: | Northern Securities Inc.
|
| Fees: | 7% in cash; 10% in units
|
| Pricing date: | Oct. 11
|
| Upsized: | Oct. 15
|
| Stock symbol: | TSX Venture: KWG
|
| Stock price: | C$0.075 at close Oct. 11
|
|
|
| Non flow-through units
|
| Amount: | C$1.5 million
|
| Price: | C$0.065
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
|
|
| Flow-through units
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| Amount: | C$1.5 million
|
| Price: | C$0.08
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.12
|
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