By Sheri Kasprzak
Atlanta, Dec. 27 - KWG Resources Inc. raked in C$1 million in a private placement, the company said.
The company sold 5,263,156 units at C$0.19 each.
The units are comprised of one flow-through share and one warrant.
The warrants allow for an additional share at C$0.21 each through Dec. 24, 2006.
Based in Montreal, KWG is a diamond exploration and development company. It plans to use the proceeds from the offering to fund it exploration program in the James Bay Lowlands of Ontario.
| Issuer: | KWG Resources Inc.
|
| Issue: | Units of one flow-through share and one warrant
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| Amount: | C$1 million
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| Units: | 5,263,156
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| Price: | C$0.19
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| Warrants: | One warrant per unit
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| Warrant expiration: | Dec. 24, 2006
|
| Warrant strike price: | C$0.21
|
| Settlement date: | Dec. 24
|
| Stock price: | C$0.165 at close Dec. 24
|
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