Business
KWG Resources Announces Increase of Proposed Private Placement of Convertible Debentures
Toronto, Ontario--(Newsfile Corp. - June 27, 2024) - KWG Resources Inc. (CSE: CACR) (CSE: CACR.A), which carries on business as The Canadian Chrome Company ("CC
About this update from Canadian Chrome Company Inc.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - June 27, 2024) - KWG Resources Inc. (CSE: CACR) (CSE: 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...