KWG ACQUIRES 16.88% OF GOLDTRAIN
posted on
Jun 09, 2011 05:43PM
Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%
cnw
Symbol on TSX Venture Exchange: KWG
Shares issued and outstanding: 636,878,941
MONTREAL, June 9, 2011 /CNW/ - KWG Resources Inc. (TSXV: KWG) (the
"Offeror") announces that earlier today, it acquired 7,000,000 common
shares and 7,000,000 warrants (each warrant entitling the holder to
purchase one common share for $0.10 on or before June 9, 2013) in
GoldTrain Resources Inc. (the "Issuer"). Following the acquisition, the
Offeror's holdings represent approximately 16.88% of the issued and
outstanding common shares of the Issuer and approximately 35.5% of the
outstanding warrants.
The shares and warrants were acquired under the exemptions set out in
Sections 2.14 and 3.14 of National Instrument 45-106 - Prospectus and Registration Exemptions. The Offeror's direct and indirect holdings in the Issuer as described
above were acquired for investment purposes without any current
intention to increase or decrease such holdings. The Offeror takes a
long-term view of the investment and reserves the right to formulate
other plans and take such actions with respect to the investment in the
Issuer as may be determined from time to time.
This news release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting
Issues, which also requires a report to be filed with regulatory authorities
in each of the jurisdictions in which the Issuer is a reporting issuer
containing additional information with respect to the foregoing matters
(the "Early Warning Report"). A copy of the Early Warning Report will
appear with the Issuer's documents on the SEDAR website at >http://www.facebook.com/kwgresourcesinc
Twitter: >http://www.youtube.com/KWGresources
Flickr: http://www.flickr.com/photos/kwgresources
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.
For further information: Bruce Hodgman Communications Director 416-646-1374 info@kwgresources.com