Business
KWG Resources Extends the Expiry Dates of Outstanding Warrants
Toronto, Ontario--(Newsfile Corp. - November 29, 2023) - KWG Resources Inc. (CSE: CACR) (CSE: CACR.A), which carries on business as The Canadian Chrome Company
About this update from Canadian Chrome Company Inc.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - November 29, 2023) - 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 that the time to exercise 551,540 warrants to purchase CACR.A multiple voting shares in the capital of the Company issued from March 17, 2022 to November 2, 2022 (each a \"Warrant\") has been extended to the earlier of (i) September 29, 2026 or (ii) a change of control event (as defined in the Debentures and the Warrants). The Warrants were first issued upon conversion of various debentures (the \"Debentures\") issued by the Corporation in 2021 as part of a convertible debenture private placement (the \"Offering\"). The expiry date of the Warrants has been extended so that each such Warrant will have a maximum five-year term from September 29, 2021, the date of the first issuance of Debentures under the Offering. Each Warrant now entitles the holder to purchase three CACR.A multiple voting shares for $3.20 per share at any time on or before the earlier of (i) September 29, 2026 or (ii) a Change of Control Event. For these purposes, a Change of Control Event means 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 the completion of 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, as the case may be, 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. About The Canadian Chrome Company: KWG, which carries on business as The Canadian Chrome Company, 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%...