TORONTO, ON–(Marketwired – April 30, 2015) – Noront Resources Ltd. (TSX VENTURE: NOT) (“Noront”) has completed the indirect acquisition of 111,733,215 common shares (each a “Purchased Share”) of KWG Resources Inc. (“KWG”) (TSX VENTURE: KWG) from Cliffs Greene B.V. (“Cliffs Greene”) in connection with the previously-announced broader transaction pursuant to which Noront acquired certain other assets from affiliates of Cliffs Greene. The Purchased Shares of KWG are held by Noront’s wholly-owned subsidiary Noront Muketei Minerals Ltd.
As a result, Noront beneficially owns approximately 13.8% of the issued and outstanding common shares of KWG as at the date of acquisition.
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.
About Noront Resources
Noront Resources Ltd. is focused on development of the high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit and the high-grade Black Thor and Blackbird chromite deposits, all of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire. www.norontresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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For more information:
Janice Mandel for Noront Resources
President & CEO