KWG Announces Proposed Debenture Issue Repriced, Notice of Unit Terms
PROPOSED DEBENTURE ISSUE REPRICED, NOTICE OF UNIT TERMS
Toronto, Canada, March 12th, 2021 – KWG Resources Inc. (CSE: KWG; KWG.A)
(FRANKFURT: KW6) (“KWG” or the “Company”) announced on January 22 nd its intention to
issue a Convertible Debenture to s ecure up to $1.1 million. The debenture will now be
convertible at any time at the option of its holder, in whole or in part, into units at $7.50 each,
comprised of one KWG.A multiple voting treasury share and a warrant to acquire at any time
within 90 days a further KWG.A multiple voting treasury share for $10.00, or for $12.00 within
180 days, or for $15.00 within 360 days (a ‘Unit’). The debenture will mature in 2 years and will
bear interest at 6% payable annually in additional such Units, until maturity or discharge.
The Company also announces that it is negotiating terms for the acquisition of previously issued
shares of Noront Resources Ltd. (TSX.V: NOT) (“Noront”) in exchange for Redeemable
Preferred shares of Canada Chrome Corporation (“CCC”) bearing a 10% cumulative annual
dividend payable in Units.
About KWG: KWG is the Operator of the Black Horse Joint Venture (‘JV’) after acquiring a
vested 50% interest through Bold Ventures Inc (‘Bold’) from Fancamp Exploration Ltd
(‘Fancamp’). KWG funds all JV exploration expenditures and Bold is carried for a 20% interest
in KWG’s interest. KWG has also received patents in Canada, South Africa and Kazakhstan and
is prosecuting patent applications in India, Indonesia, Japan, South Korea, Turkey and the USA
for the direct reduction of chromite to metalized iron and chrome usi ng natural gas and an
accelerant. It has also received a USA patent for production of low carbon chromium iron
alloys.
Canada Chrome Corporation:
CCC is a wholly owned subsidiary of KWG which has staked claims and conducted a surveying
and soil testing program, originally for the engineering and construction of a railroad to the Ring
of Fire from Aroland, Ontario. Its COO Tony Marquis has been a top tier executive with both
Canadian National Railroad and Canadian Pacific Railroad, where he played an integral role in
the two most successful railroad turnarounds in North America. At both companies, he worked
closely with his mentor, the legendary Hunter Harrison, who led both railroads to becoming the
most efficient in the industry.
For further information, please contact:
Bruce Hodgman, Vice-President: 416-642-3575 ~ [email protected]
Forward-Looking Statements: Information set forth in this news release may involve forward- looking statements under
applicable securities laws. The forward- looking statements contained herein are expressly qualified in their entirety by this
cautionary statement. The forward-looking statements included in this document are made as of the date of this document
and KWG disclaims any intention or obligation to update or revise any forward- looking statements, whether as a result of
new information, future events or otherwise, except as expressly required by applicable securities legislation. Although
management believes that the expectations represented in such forward- looking statements are reasonable, there can be
no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or
solicitation of an offer to buy any securities that may be described herein and accordingly undue reliance should not be put
on such. Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.
KWG
PRESS RELEASE NO.311
Subordinate shares issued & outstanding (CSE-KWG) 1,020,332,127
Convertible into Multiple-voting shares (300:1) equal to: 3,401,107
Multiple-voting shares issued & outstanding: 517,049
If all shares convert to Multiple-voting (CSE-KWG.A) 3,918,156