Toronto, Ontario–(Newsfile Corp. – April 3, 2018) – KWG Resources Inc. (CSE: KWG.A) (CSE: KWG) (OTC: KWGBF) (FSE: KW6) (“KWG”) is very pleased to announce that David Crotin has been appointed President & Chief Executive Officer of FERROCHROME DIGITAL CORP, a wholly-owned subsidiary of KWG. David has also agreed to be appointed to the Board of Directors of KWG in place of Thomas Pladsen following his recent resignation, such appointment expected to be made at the next meeting of KWG’s Board of Directors.
FERROCHROME DIGITAL CORP has been established to create the FERRO, a blockchain secure-contract, designed to be a cryptocurrency which will be issued upon future deliveries of chrome to underwrite its value. It is planned that subscribers to THE RING OF FIRE LP (a flow-through limited partnership for accredited investors) who elect the option to do so may acquire FERROS in exchange for their partnership units.
David Crotin brings 25 years of experience in the capital markets to KWG via roles at the Toronto Stock Exchange, at startup Versus Technologies (bought by E*Trade), at RBC Dominion Securities as an algo-specialist pro-trader in the Canadian Equity Derivatives Group and at GFB Arbitrage Inc which he co-founded and managed for 15 years.
KWG is the Operator of the Black Horse Joint Venture after acquiring a vested 50% interest through Bold Ventures Inc. which is carried for 10% (20% of KWG’s equity in the JV) by KWG funding all exploration expenditures. KWG also owns 100% of Canada Chrome Corporation which has staked claims and conducted a surveying and soil testing program, originally for the engineering and construction of a railroad to the Ring of Fire from Aroland, Ontario. KWG subsequently acquired intellectual property interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. KWG subsidiary, Muketi Metallurgical LP, is prosecuting two chromite-refining patent applications in Canada, India, Indonesia, Japan, Kazakhstan, South Africa, South Korea, Turkey, and USA. The national phase filings are under review in each of those jurisdictions, save that Canada and South Africa have notified that they will each grant a patent for the direct reduction method and Kazakhstan has issued a Patent for the method.
For further information, please contact:
Bruce Hodgman, Vice-President: 416-642-3575 ~ [email protected]