KWG Resources Inc announced that it has closed a first tranche of a previously announced non brokered private placement through the sale of 39,090,000 units at USD 0.125 each for gross proceeds of USD 4,886,250. Each unit consists of one flow through common share and one half of a common share purchase warrant issued on a flow through basis pursuant to the Income Tax Act.
Each whole common share purchase warrant entitles the holder to purchase one non flow through common share until March 31st 2012 at a price of USD 0.15. Finder’s fees totaling USD 390,900 were paid. All securities issued pursuant to this private placement have a hold period of four months ending August 1st 2010.
The company also announces that Mr René R Galipeau has been appointed to its board of directors to fill the vacancy occasioned by the previously announced resignation of Mr Michel Côté.
Mr Galipeau is the VC & CEO of both Nuinsco Resources Limited and of Victory Nickel Inc.
http://www.steelguru.com/news/index/2010/04/03/MTM5NjA5/KWG_Resources_Inc_closes_first_tranche_of_private_placement.html
Friday, April 2, 2010
KWG Resources Inc closes first tranche of private placement
0 comments:
Post a Comment