TORONTO, ONTARIO -- (Marketwired) -- 05/11/17 -- KWG Resources Inc. (CSE: KWG)(CSE: KWG.A)(CSE: KWG.CN)(CSE: KWG.A.CN)(CNSX: KWG)(CNSX: KWG.A)(FRANKFURT: KW6) ("KWG" or the "Company") announces that the adjourned Special Meeting of Shareholders of KWG has been cancelled by the Company's board of directors. It was scheduled to reconvene on Friday, May 12, 2017 but management was unable to solicit sufficient proxies to vote in favour of passing the special resolution and thus the cost of convening the adjourned meeting was not warranted at this time.
KWG is also pleased to announce that Bruce Hodgman has been promoted and appointed as a Vice President of the Company.
About KWG:
KWG is the Operator of the Black Horse Joint Venture after acquiring a vested 50% interest through Bold Ventures Inc. which is carried for 10% (20% of KWG's equity in the JV) by KWG funding all exploration expenditures.
KWG also owns 100% of Canada Chrome Corporation 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 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, is prosecuting two chromite-refining patent applications in Canada, USA, India, Indonesia, Japan, Kazakhstan, South Africa, South Korea and Turkey. The filings have been receipted in each of those jurisdictions.
Forward-Looking Statements: Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.
Subordinate Shares issued & outstanding: 1,022,316,001
Contacts:
KWG Resources Inc.
Bruce Hodgman
Vice-President
416-642-3575
info@kwgresources.com
