KWG Files Notice of Sale From Control of Debut Diamonds
2016-03-14 01:38:00 PM ET (Marketwired)
KWG Resources Inc. (CSE: KWG)(FRANKFURT: KW6) ("KWG") has filed a Notice of Sale from Control with respect to all of its 144,630,000 common shares of affiliate Debut Diamonds Inc. (CSE: DDI) ("Debut"). The notice provides that the shares will be sold either in whole or in part and either privately or through the facilities of the Canadian Securities Exchange stock market.
KWG has a 30% interest in the Big Daddy chromite deposit and the right to earn 80% of the Black Horse chromite where resources are being defined. KWG also owns 100% of CCC which has staked claims and conducted a surveying and soil testing program, originally for the engineering and construction of a railroad to the Ring of Fire from Aroland, Ontario. KWG subsequently acquired intellectual property interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. The Company is prosecuting patent applications for both the direct reduction method and for a method of producing high purity chromium metal by continuous smelting.
Shares issued and outstanding: 871,418,968 Contacts: KWG Resources Inc. Bruce Hodgman Vice-President 416-642-3575[email protected] SOURCE: KWG Resources Inc.