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TORONTO, ONTARIO -- (Marketwired) -- 02/17/16 -- KWG Resources Inc. (CSE:KWG) (FRANKFURT:KW6) ("KWG") advises that the Canadian
Securities Exchange ("CSE") has granted it a waiver of the minimum price requirement for the listing of new treasury shares that
may be issued under the terms of a proposed private placement. The contemplated private placement terms are for an issue of
convertible debentures which may be converted into treasury units of KWG under certain circumstances. KWG has received permission
from CSE to fix the conversion price of such units at $0.02 each, where each unit would be comprised of one new common share issued
from treasury, plus one warrant. Each warrant may be exercised to acquire one further new common share from treasury upon payment
of $0.05 at any time within five years from the issue of the debenture.
About KWG:
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:
Bruce Hodgman
Vice-President
416-642-3575
info@kwgresources.com