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KWG Resources ( (TSE:CACR) ) has issued an announcement.
KWG Resources Inc. announced the closing of the third tranche of its private placement, raising a total of $3,924,320.68 through the issuance of 3,164,774 units. The funds will support the company’s operations in acquiring and developing large-scale mineral deposits. Additionally, the CEO, Frank Smeenk, was awarded a deferred compensation bonus of $1,500,000, payable in units. This transaction is considered a related party transaction but did not require a formal valuation or minority shareholder approval due to the company’s market capitalization.
More about KWG Resources
KWG Resources Inc., operating as The Canadian Chrome Company, is an exploration stage company focused on the identification, acquisition, consolidation, exploration, development, and evaluation of large-scale mineral deposits, including chromite, base metals, and strategic minerals. The company also works on developing transportation and electrification links to access remote areas where these deposits are located.
Average Trading Volume: 1,063,976
Technical Sentiment Signal: Buy
Current Market Cap: C$38.39M
Learn more about CACR stock on TipRanks’ Stock Analysis page.