Each unit comprises one flow-through treasury share and one warrant
By Susanna Moon
Chicago, Feb. 24 - KWG Resources Inc. said it closed the final C$70,000 tranche of C$2.33 million non-brokered private placement of units.
In the final tranche, the company sold 1.4 million flow-through units at C$0.05 each, which is an 11.11% premium to the company's Feb. 21 closing price.
Each unit comprises one flow-through treasury share and one warrant, which may be exercised for another flow-through share at C$0.10 for three years.
The strike price is a 122.22% premium to the company's closing price.
Based in Montreal, KWG explores for diamonds and base and precious metals.
| Issuer: | KWG Resources Inc.
|
| Issue: | Flow-through common stock
|
| Amount: | C$2.33 million
|
| Price: | C$0.05
|
| Warrants: | One per unit
|
| Warrant strike price: | C$0.10
|
| Warrant expiration: | Three years
|
| Settlement date: | Feb. 24
|
| Stock symbol: | Canada: KWG
|
| Stock price: | C$0.045 at close Feb. 21
|
| Market capitalization: | C$36.03 million
|
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