KWG Resources Inc.
KWG is an exploration stage company that is participating in the discovery, delineation and development of chromite deposits in the James Bay Lowlands of Northern Ontario, including 1,024 hectares covered by four unpatented mining claims approximately 280km north of Nakina, Ontario, which contains the Black Horse chromite deposit (the “Koper Lake Project”) and 1,241 hectares covered by seven unpatented mining claims approximately 280km north of Nakina, Ontario, which contains the Big Daddy chromite deposit (the “Big Daddy Project”). The Corporation has the right to acquire: (i) up to an 80% interest in respect of chromite contained in the Koper Lake Project; and (ii) up to a 20% interest in respect of the non-chromite minerals contained in the Koper Lake Project. The Corporation also has a 30% interest in the Big Daddy Project. Through the Corporation’s subsidiary, Canada Chrome Corporation (“CCC”), KWG has also staked mining claims in Northern Ontario with a view to the development and construction of a proposed railway from Nakina, Ontario to the Koper Lake Project and the Big Daddy Project as well as exploring for, delineating and developing aggregate and other minerals.
KWG Resources Inc. (KWG)
February 9, 2017
KWG Resources Inc. has announced an amendment to its authorized capital to change the classification of each of the existing common shares into one convertible subordinate voting share (the “Reclassification”), and to create an unlimited number of convertible shares to be designated as multiple voting shares.
As a result, the outstanding common shares of the company will be reclassified into 966,320,281 subordinate voting shares.