Fancamp Exploration Ltd. Acquires Securities of KWG Resources Inc.

VANCOUVER, British Columbia, Sept. 02, 2022 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“Fancamp”) is pleased to announce that, on September 1, 2022, KWG Resources Inc. (“KWG”), an exploration stage mining company headquartered in Ontario, issued the following securities to Fancamp: (a) a secured convertible promissory note of KWG (the “Secured Convertible Promissory Note”) in the aggregate principal amount of C$34,500,000 (the “Principal Amount”), convertible into multiple voting shares in the capital of KWG (“MVS”); and (b) warrants (the “Warrants”) to purchase MVS. The Secured Convertible Promissory Note and the Warrants were issued by KWG to Fancamp as partial consideration for the acquisition by KWG of all of the right, title and interests beneficially owned by Fancamp in and to the “Koper Lake-McFaulds” mineral properties, comprised of four (4) mining claims located within the “Ring of Fire” in the Province of Ontario.

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