KWG Resources Inc. announced a non-brokered private placement of 66,667 flow-through units at a price of CAD 2.25 per flow-through unit for aggregate gross proceeds of CAD 150,000.75 on December 30, 2022. The transaction included participation from Chief Executive Officer of the company, subscribed for the entire transaction and holds the equivalent of 1,834,655 (9.20%) of the multiple voting shares and 1,901,332 (9.51%) thereof on a partly diluted basis if all warrants issued in the transaction are exercised. Each flow-through unit is comprised of one multiple voting share and one multiple voting share purchase warrant of the company.

Each Warrant enabling the holder to acquire one multiple voting share upon payment of CAD 2.75 at any time before December 30, 2027. All of the securities issued pursuant to this transaction are subject to a four month hold period.