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Noront Resources Ltd. (TSXV:NOT) announced that it’s completed the indirect acquisition of 111,733,215 common shares of KWG Resources Inc. (TSXV:KWG) from Cliffs Greene BV.
Noront Resources Ltd. (TSXV:NOT) announced that it’s completed the indirect acquisition of 111,733,215 common shares of KWG Resources Inc. (TSXV:KWG) from Cliffs Greene BV. Noront now owns about 13.8 percent of the issued and outstanding shares of KWG.
As quoted in the press release:
The Purchased Shares of KWG are held by Noront’s wholly-owned subsidiary Noront Muketei Minerals Ltd.
The Purchased Shares were acquired for investment purposes. Noront may increase or decrease its beneficial ownership in KWG in the future, depending on, among other factors, market conditions and other factors relevant to Noront’s investment decisions. Other than the Purchased Shares, Noront has no current intention to increase its beneficial ownership of, or control or direction over, additional securities of KWG.
Click here to read the full Noront Resources Ltd. (TSXV:NOT) press release.