KWG, Bold Ventures extend option notice deadline (again)

Highly prospective exploration company

Resource projects cover more than 1,713 km2 in three provinces at various stages, including the following: hematite magnetite iron formations, titaniferous magnetite & hematite, nickel/copper/PGM, chromite, Volcanogenic Massive and gold.

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KWG, Bold Ventures extend option notice deadline (again)

posted on Nov 05, 2014 02:04PM

KWG, Bold Ventures extend option notice deadline

2014-11-05 13:51 ET - News Release

Also News Release (C-BOL) Bold Ventures Inc

Mr. Bruce Hodgman reports

KWG EXTENDS TIME TO COMMIT TO FURTHER BLACKHORSE PROGRAM

By mutual agreement of the parties, KWG Resources Inc. and Bold Ventures Inc. have extended to Dec. 30, 2014, the deadline by which KWG must provide that it intends to make the $700,000 option payment due Feb. 7, 2015, under the KWG/Bold option agreement and expend a total of $8-million on the Blackhorse property by March 31, 2015. KWG has to date incurred $5.8-million of the $8-million required expenditure and is proceeding with a prospectus offering of securities to finance the additional work. If the notice is not delivered within the extended time, the option will be terminated.

"Recent events have dramatically altered the current value of opportunities in the Ring of Fire," said KWG president Frank Smeenk. "That has exacerbated a difficult exploration and development financing environment for those of us working there. We need some time to discuss these circumstances with all the participants affected by this new reality."

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