KWG Resources disposes of 8.45 M Debut Diamonds shares

2018-09-06 16:41 ET - News Release

Also News Release (C-DDI) Debut Diamonds Inc

Mr. Bruce Hodgman of KWG reports

KWG RESOURCES INC.: SALE FROM CONTROL BLOCK OF DEBUT DIAMONDS INC.

KWG Resources Inc. has disposed of 8.45 million common shares in the capital of Debut Diamonds Inc. at a price of 0.5 cent per common share through the Canadian Securities Exchange.

Prior to disposing of such common shares, KWG owned or controlled 131,515,500 common shares, representing approximately 64.4 per cent of the issued and outstanding common shares of Debut Diamonds. As a result of the aforementioned disposition, KWG now owns or controls 123,065,500 common shares of Debut Diamonds, representing approximately 60.25 per cent of the issued and outstanding common shares of Debut Diamonds.

KWG has been actively seeking a buyer for its entire interest in Debut Diamonds and completed the disposition to reduce its holdings of common shares of the issuer and to raise cash for use in other corporate purposes. Depending upon KWG's evaluation of the business, prospects and financial condition of the issuer, the market for the issuer's securities, its own financial position, general economic conditions, and other factors, KWG may or may not dispose of more of its securities of the issuer, in whole or in part.

About KWG Resources Inc.

KWG is the operator of the Black Horse joint venture after acquiring a vested 50-per-cent interest through Bold Ventures Inc. from Fancamp Exploration Ltd.

KWG also owns 100 per cent of Canada Chrome Corp., which has staked claims and conducted a surveying and soil testing program, originally for the engineering and construction of a railway to the Ring of Fire from Aroland, Ont.

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