KWG Resources announces $5M Private Placement
KWG Resources, which carries on business as The Canadian Chrome Company, has announced a proposed private placement of up to 4,807,692 units at a price of $1.04 per unit for total proceeds of up to $5 million. Each unit will consist of one multiple-voting share and one share purchase warrant, allowing the holder to acquire an additional multiple-voting share at an exercise price of $1.30 within five years.
Each subscriber must qualify as an accredited investor under applicable securities laws. The funds raised will be directed toward the company’s ongoing exploration and development of large-scale chromite and base metal deposits, as well as general corporate expenses.
The company has agreed to pay finders’ fees of up to 5% for investors referred by eligible parties, with the fees payable in units at the same deemed price. All securities issued will be subject to a four-month hold period.
About The Canadian Chrome Company
KWG Resources, operating as The Canadian Chrome Company, is an exploration-stage company focused on acquiring, consolidating, and developing significant mineral deposits, including chromite and base metals. The company is also engaged in developing transportation and electrification infrastructure to access remote mineral-rich regions.
KWG holds a 100% interest in the Black Horse chromite project, with Bold Ventures carried through exploration for 10% of the project. The company also has a 100% stake in Canada Chrome Corporation, which has staked mining claims for a transportation corridor linking the Ring of Fire to southern Ontario. Additionally, KWG has acquired intellectual property for a low-cost, reduced-carbon chromite refining process using natural gas. The company holds patents for this method in Canada, the United States, South Africa, and Kazakhstan, with a pending application in Turkey.
Tags: Northern Ontario / Deals & Financial / Minerals / All Articles