KWG Announces CSE Listing of Multiple Voting Shares and Correction of Time of Adjourned Shareholders Meeting
TORONTO, ONTARIO--(Marketwired - Apr 28, 2017) - KWG Resources Inc. (CSE:KWG)(CSE:KWG.CN)(FRANKFURT:KW6) ("KWG" or the "Company") is pleased to announce that it has received approval to list its multiple voting shares (the "Multiple Voting Shares") on the Canadian Securities Exchange ("CSE").
The Multiple Voting Shares are convertible at the option of each individual shareholder at any time into subordinate voting shares of the Company (the "Subordinate Voting Shares") at a rate of one (1) Multiple Voting Share for three hundred (300) Subordinate Voting Shares. At all meetings of shareholders, shareholders are entitled to cast three hundred (300) votes for each one (1) Multiple Voting Share. Dividend and liquidation rights for each Multiple Voting Share are correspondingly three hundred times the dividend and liquidation rights of each Subordinate Voting Share.
Correspondingly, the Subordinate Voting Shares are convertible shares at the option of each individual shareholder at any time into Multiple Voting Shares at a rate of three hundred (300) Subordinate Voting Shares for one (1) Multiple Voting Share. At all meetings of shareholders, shareholders are entitled to cast one (1) vote for each one (1) Subordinate Voting Share. Dividend and liquidation rights for each Subordinate Voting Share are correspondingly one three hundredth (1/300) of the dividend and liquidation rights of each Multiple Voting Share.
Starting at the opening of markets today, April 28, 2017, the Multiple Voting Shares commence trading on the CSE under the symbol KWG.A.
The Subordinate Voting Shares continue to trade on the CSE under the symbol KWG.
KWG also announces a correction to its press release issued on April 24, 2017 in respect of the time announced for the adjourned meeting of shareholders of the Company. The special meeting of shareholders of KWG will reconvene at 11:00 a.m. (Eastern Daylight Savings time) on Friday, May 12, 2017 at 199 Bay Street, Suite 2200, Toronto, Ontario.
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, China, 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.
Shares issued and outstanding: 1,022,316,001