KWG Resources (TSE:CACR) has released an update.
KWG Resources Inc., also known as The Canadian Chrome Company, has successfully closed the second tranche of its private placement, totaling $1,012,000 in convertible debentures, and cumulatively reaching $2,500,150. The company offered a 20% premium through unit issuance and plans to use the proceeds to fund its chrome acquisition and development projects. The debentures, bearing 5% annual interest, are repayable or convertible into multiple-voting shares before the maturity date of March 31, 2028.
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