By Sheri Kasprzak
New York, Jan. 25 - KWG Resources Inc. said it priced a C$1 million private placement.
The non-brokered offering includes up to 20 million units at C$0.05 each.
The units are comprised of one flow-through share and one warrant. The warrants are exercisable at C$0.10 each for two years.
Proceeds will be used for working capital.
In other news at KWG, the company announced that Douglas Flett has been appointed as a director to fill a vacancy caused by the resignation of Jonathan Challis.
Based in Montreal, KWG is a mineral exploration company.
| Issuer: | KWG Resources Inc.
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| Issue: | Units of one flow-through share and one warrant
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| Amount: | C$1 million
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| Units: | 20 million
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| Price: | C$0.05
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.10
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| Placement agent: | Non-brokered
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| Pricing date: | Jan. 25
|
| Stock symbol: | TSX Venture: KWG
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| Stock price: | C$0.075 at close Jan. 24
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