KWG Resources (TSE:CACR) has released an update.
KWG Resources Inc., known as The Canadian Chrome Company, has announced a proposed private placement seeking to raise up to $2 million through convertible debentures, maturing in 2028 with a 5% annual interest rate. These debentures can be repaid in cash or converted into units comprised of shares and warrants, with a premium paid to holders upon issuance. The funds raised are intended for the company’s business expansion in the acquisition and development of chrome interests.
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