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An update from KWG Resources ( (TSE:CACR) ) is now available.
The Canadian Chrome Company has closed the first tranche of its previously announced non-brokered private placement, issuing 524,600 units at $1.50 per unit for gross proceeds of approximately $786,900, with each unit consisting of a multiple voting share and a warrant exercisable at $1.75. Company insiders, including senior directors and officers, subscribed for 387,766 of the units, representing a modest percentage of the company’s multiple voting shares on a partly diluted basis; the transaction falls within related-party rules but is exempt from formal valuation and minority approval thresholds. Proceeds will be applied to advancing CCC’s chromite and base metals exploration and development portfolio, as well as funding overhead and placement costs, while all securities are subject to a four‑month hold period. The company has also extended the private placement, and a related flow-through offering, by an additional 45 days, signaling an ongoing effort to strengthen its balance sheet and support its long-term project pipeline.
More about KWG Resources
The Canadian Chrome Company Inc., formerly KWG Resources Inc., is a Toronto-based mining company focused on acquiring interests in, and exploring, evaluating and developing, large-scale chromite and other base metal and mineral deposits. Its capital structure includes multiple voting shares and subordinate voting shares, with the latter convertible into multiple voting shares at a 100:1 ratio, and its securities are listed on the Canadian Securities Exchange under tickers CACR and CACR.A.
Average Trading Volume: 2,762,559
Technical Sentiment Signal: Sell
Current Market Cap: C$24.71M
For an in-depth examination of CACR stock, go to TipRanks’ Overview page.