MONTRÉAL, Dec. 6 /CNW/ - KWG Resources Inc. ("KWG") reports that just under $2 million has been subscribed to its
capital as a result of the exercise of outstanding options and
warrants, each of which enabled their holders to purchase shares from
treasury for $0.10 each. The warrants were previously issued in
connection with the private placement of units comprised of
flow-through shares and warrants.
KWG is also pleased to announce that the metallurgical test work on the Big Daddy bulk sample will be conducted by Xstrata Process Support (XPS) at their facilities in Falconbridge, Ontario under the direction of Mr.
Arthur Barnes. Initial physical properties tests are expected to be
completed in the next number of weeks and the material will be
scheduled for further smelting tests at XPS in 2011. The tests will
provide data on the friability of the ore and the amount of electrical
energy consumed in its smelting. These data will enable consumers of
the raw material to determine its potential value relative to similar
materials from sources of supply located elsewhere.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.