KWG RESOURCES

​

KWG Resources, carrying business under Canadian Chrome Company (CACR/CACR.A), is a mineral exploration company participating in the discovery, delineation and development of chromite deposits in the James Bay Lowlands of Northern Ontario, which contains the Black Horse and the Big Daddy chromite deposits. The James Bay Lowlands in Northern Ontario contain one of the largest potential mineral reserves in Canada, with the potential to yield *$60 billion worth of nickel, chromite and other minerals, and a $1 billion pledge from the Ontario government toward infrastructure development. ​

 

Fancamp benefits from potential upside as the project is further developed, strategically maintaining the option to convert at a predetermined price, through the C$34.5 million sale of all rights, title and interests in and to Koper Lake mining claims which hosts the Blackhorse chromite deposit, located in the “Ring of Fire”, Ontario, in a strategic and commercial transaction with Canada Chrome Company (KWG); (Link to September 1, 2022 release). Koper Lake-McFaulds: 4 mining claims situated in Ring of Fire, surrounded by Noront ground, which was acquired by  Wyloo in 2022. A secured convertible promissory note was issued to Fancamp for a face value of C$34.5 million (6% annual interest, 4-year maturity date), in addition to 2.0% net smelter return royalty (0.5% may be purchased by KWG Resources any time for C$5 million, the next 0.5% subject to a right of first refusal in favour of KWG Resources); (Link to July 21, 2022 release).​

​

Annual interest on promissory note; Fancamp has received 1.4 million Canada Chrome Corporation’s Class A (CSE: CACR.A) shares for a value of $3.0 million as interest payments on the secured note (since Nov 2022).

​

​

* REFERENCE: Office of the Auditor General of Ontario - Ministry of Northern Development and Mines: https://www.auditor.on.ca/en/reports_en/en15/3.11en15.pdf