KWG Resources to change name to Canada Chrome Corporation
KWG Resources to change name to Canada Chrome
2023-05-18 13:05 ET - News Release
Mr. Bruce Hodgman reports
CANADA CHROME CORPORATION TO BECOME NEW NAME OF KWG RESOURCES INC
Upon receipt of required approvals, KWG Resources Inc. will amalgamate with its wholly owned subsidiary Canada Chrome Corp. (CCC). CCC's assets will be transferred to its affiliate Ring of Fire Transportation & Utilities Inc., also a wholly owned subsidiary of KWG now.
The amalgamated company will adopt the name Canada Chrome Corp. KWG has acquired licence to the business style and word mark Canada Chrome for its use pending completion of the amalgamation.
About KWG Resources Inc.
KWG is the owner of 100 per cent 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 per cent of the chromite project. KWG also holds other area interests, including a 100-per-cent interest in the Hornby claims, a 15-per-cent vested interest in the McFaulds copper/zinc project and a vested 30-per-cent interest in the Big Daddy chromite project. KWG also owns 100 per cent of CCC, which staked mining claims between Aroland, Ont. (near Nakina), and the Ring of Fire. CCC has conducted a surveying and soil testing program to assess the prospects for the engineering and construction of a railway along that route between the Ring of Fire and Aroland, Ont., covering the claims staked by CCC. CCC engaged Cormorant Utilities and Rail-Veyor Technologies for engineering proposals for the construction of a transportation and utility corridor within the route and has received those proposals. KWG has also acquired intellectual property interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. KWG subsidiary Muketi Metallurgical LP has acquired two chromite-refining patents in Canada and one in each of the United States, South Africa and Kazakhstan and is prosecuting an application in Turkey.