Toronto, Canada, December 31, 2021 – KWG Resources Inc. (“KWG” or the “Company”) (CSE: KWG; KWG.A) (FRANKFURT: KW6) and its subsidiary, Canada Chrome Corporation (“CCC”), are pleased to announce that, in accordance with the provisions of the agreements entered into with Rail-Veyor Technologies Global Inc. (“Rail-Veyor”) and Cormorant Utility Services Limited (“Cormorant”) (see news release dated July 27, 2021), each of Rail-Veyor and Cormorant acquired common shares of CCC in payment of fees of $1,538,460 and $2,400,000, respectively, for their respective engineering and design services, following which each of them exercised their exchange privilege and tendered their common shares of CCC as payment for the acquisition of 580,551 multiple voting shares of KWG (“KWG.A Shares”) and 905,660 KWG.A Shares, respectively, for an aggregate of 1,486,211 KWG.A Shares, at a price of $2.65 per share for an aggregate value of $3,938,460 (the “Transactions”).
All the securities issued pursuant to these Transactions are subject to a four (4) month hold period.