CORRECTION FROM SOURCE: KWG Resources Inc Announces Closing of Third Tranche of Its Private Placement of Units

About this update from Canadian Chrome Company Inc.

[{"type":"text","content":"This release corrects and replaces the press release issued by KWG Resources on May 6, 2025, at 8:45 am EDT.","length":108,"tagName":"p"},{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - May 6, 2025) - KWG Resources Inc. (CSE: CACR) (CSE: CACR.A), which carries on business as The Canadian Chrome Company ("CCC", "KWG" or the "Company") is pleased to announce the closing on May 5, 2025 of the third and last tranche of its previously announced private placement (the "Private Placement") of units (each a "Unit") at a price of $1.24 per Unit (see the Company's news releases dated March 20, 2025, April 7, 2025, April 11, 2025 and April 25, 2025). The third tranche was comprised of an aggregate of 2,122,946 Units issued for aggregate proceeds of $2,632,454, bringing the total amount of Units issued under the Private Placement to 3,164,774 for aggregate proceeds of $3,924,320.68. Each Unit is comprised of one (1) CACR.A multiple-voting share and one (1) share purchase warrant enabling its holder to acquire one further CACR.A multiple-voting share from treasury upon payment of an exercise price of $1.55 at any time on or before the earlier of (i) April 7, 2030 or (ii) two (2) business days after completion of a take-over bid or a merger, amalgamation, arrangement or other form of business combination as a result of which the shareholders of the Company immediately prior to such bid or business combination do not own a majority of votes attaching to the voting securities of the Company or of the resulting issuer or do not have the power to elect a majority of the directors of the Company or of the resulting issuer, as the case may be, after completion of such bid or business combination.","length":1609,"tagName":"p"},{"type":"text","content":"The proceeds from the Private Placement will be used to fund the Company's business focused on the acquisition of interests in, and the exploration, evaluation and development of, large-scale mineral deposits of chromite and other base metals and minerals including, without limitation, funding the Company's overhead and operating expenses and the costs of this Private Placement.","length":389,"tagName":"p"},{"type":"text","content":"All of the securities issued pursuant to the third tranche of the Private Placement (other than...

More updates from Canadian Chrome Company Inc.