KWG Announces Increase of Private Placement
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KWG ANNOUNCES INCREASE OF PROPOSED PRIVATE PLACEMENT
OF CONVERTIBLE DEBENTURES
Toronto, Canada, June 27, 2024 – KWG Resources Inc. (CSE: CACR and CACR.A) , which
carries on business as The Canadian Chrome Company (“CCC”, “KWG” or the “Company”) (The
Canadian Chrome Company is a registered business style of KWG Resources Inc.) is pleased to
announce the increase of its previously announced private placement (the “Private Placement”)
of Series CD -2024 convertible debentures (the “ Debentures”) by an additional $3,000,000,
bringing the proposed Private Placement up to $5,000,000 Debentures on the same terms as
previously announced (see the Company’s news release dated May 13, 2024). The closing of the
Private Placement is anticipated to be completed by July 31, 2024.
This news release shall not constitute an offer to sell nor the solicitation of an offer to buy securities.
About The Canadian Chrome Company:
KWG, which carries on business as The Canadian Chrome Company, is an exploration stage
company that is focused on identification, acquisition, consolidation, exploration, development and
evaluation of large-scale deposits of minerals including chromite, base metals and strategic
minerals and, where applicable, in the development of transportation links to access remote areas
where these deposits may be located. In respect of chromite, KWG is the owner of 100% of the
Black Horse chromite project (formerly part of Fancamp’s “Koper Lake-McFaulds” properties) in
which Bold Ventures Inc. is carried through exploration of the former Fancamp claims for 10% of
the chromite project. KWG also holds other area interests including a 100% interest in the Hornby
claims, a 15% vested interest in the McFaulds copper/zinc project and a vested 30% interest in the
Big Daddy chromite project. KWG also owns 100% of Canada Chrome Corporation (the
“Subsidiary”) which staked mining claims between Aroland, Ontario (near Nakina) and the Ring of
Fire. The Subsidiary has conducted a surveying and mineral and soil testing program to explore for
minerals and to assess the prospects for the engineering and construction of a railroad along that
route between the Ring of Fire and Aroland, Ontario covering the claims staked by the Subsidiary.
The Subsidiary identified deposits of aggregate along the route and made application for 32
aggregate extraction permits. The Subsidiary engaged Cormorant Utilities and Rail -Veyor
Technologies for Engineering Proposals for the construction of a transportation and utility corridor
within the route to connect the Ring of Fire area to transportation and electrification systems which
run through Nakina, Ontario (near Aroland) connecting to southern Ontario and the rest of Canada
and has received those proposals . Those proposals include electrification systems connecting to
several First Nations communities in the James Bay Lowlands including in the Ring of Fire area.
KWG has also acquired intellectual property interests, including a method for the direct reduction
of chromite to metalized iron and chrome using natural gas. KWG subsidiary Muketi Metallurgical
KWG
The
Canadian
PRESS RELEASE NO. 356
Subordinate shares issued & outstanding (CSE-CACR) 1,269,057,532
Convertible into Multiple-voting shares (100:1) equal to: 12,69,575
Multiple-voting shares issued & outstanding: 9,068104
Chrome If all shares convert to Multiple-voting (CSE-CACR.A) 21,758,679
Company
2
LP has acquired two chromite-refining patents in Canada and one in each of the USA, South Africa
and Kazakhstan, and is prosecuting an application in Turkey.
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-look ing statements are
reasonable, there can be no assurance that such expectations will prove to be correct.
Disclaimer: 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.