"The securities and other closing documents remain in escrow pending the successful listing of Debut's shares on the CNSX on or before September 15, 2011."

"Can anyone speculate on the exact meaning of this? "

I understand that the placement is conditional to the listing, which, albeit rubberstamping, depend on a third party decision. So they legally have no choice than to escrow the closing documentation until the CNSX stamp. The depositary is probably the attorneys firm that prepared the closing documents, which will deliver the securities to Mineraldfield when the listing is confirmed.

Concerning the distribution to KWG's shareholders, the date will be determined later. From the July 6 NR:

"When conditional listing approval has been received, KWG will establish a record date to determine its shareholders entitled to receive a dividend of some or all of the 38.5 million shares of Debuts then held by KWG. It is anticipated that these will be distributed to those KWG shareholders as a dividend of not less than one share of Debut for every 20 shares of KWG held."

GLTA

BaBe