TORONTO, ONTARIO--(Marketwired - April 24, 2017) - KWG Resources Inc. (CSE:KWG)(CSE:KWG.CN)(FRANKFURT:KW6) ("KWG" or the "Company") announces that on Friday, April 21, 2017 the Company held a special shareholders' meeting, the shareholders voting in favour of two of the items tabled at the meeting, namely approval of the amendment to the stock option plan and setting the number of directors (between the minimum and maximum prescribed by the Company's articles) at six (6). Given the extensive distribution of shares and the tight timing of mailing of meeting materials, the shareholders adjourned the meeting to allow additional votes to be received with respect to the third item tabled at meeting, namely a special resolution intended to create a new class of shares.
The special meeting of shareholders of KWG will, therefore, reconvene at 11:00 p.m. (Toronto time) on May 12, 2017 at 199 Bay Street, Suite 2200, Toronto, Ontario.
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 CCC 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 subsequently 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, China, India, Indonesia, Japan, Kazakhstan, South Africa, South Korea, Turkey, and USA. 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.
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