Symbol on TSX-Venture Exchange: KWG
Shares issued and outstanding: 403,468,877
MONTREAL, Oct. 15 /CNW/ - The Board of Directors of KWG Resources Inc (TSXV: KWG) has awarded 6,558,500 options to purchase treasury shares at $0.10 each, under the provisions of the Company's Incentive Stock Option Plan. Of the total awards 703,500 were allocated to employees 2,075,000 were allocated to directors of the Company and of its subsidiaries, 520,000 to directors who are also officers, 1,785,000 to officers and 1,475,000 were allocated to consultants. The options are exercisable over a period of five years.
About KWG Resources Inc:
KWG Resources is a mineral exploration company with extensive claim holdings in the James Bay Lowlands of Northern Ontario, Canada, where important discoveries of nickel and chrome have been made recently in the Ring of Fire. KWG has an equal joint venture interest in a large claim block in the central part of the discovery area, with Spider Resources Inc. The joint venture is developing the Big Daddy chromite deposit adjacent to the Black Thor and Black Label chromite discoveries of Freewest Resources. KWG holds a 1% net smelter royalty in all three deposits and has created Canada Chrome Corporation to pursue the development of them.
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SOURCE KWG RESOURCES INC.
For further information: For further information: Bruce Hodgman, Communications Director, Direct: (416) 646-1374, firstname.lastname@example.org; Michel Côté, Director, (514) 866-6001; Or visit our website: www.kwgresources.com