"They may spin off the diamond properties later with a diffrent name, when they have more time."
If I'm not mistaken.... I believe the diamond properties that DDI has currently, are being moved into KWG in exchange for the RR right of way and 1% NSR plus cash. The new merged Spider-KWG subsidiary will then hold all the combined diamond and ROF properties of the 2 former companies.
From the news release:
Prior to the completion of the Merger, KWG will transfer its interest in the railway right of way, in its 1% net smelter returns royalty covering the Big Daddy Deposit, the Black Thor Deposit and the Black Label Deposit granted by Freewest Resources Canada Inc., and cash in an amount to be agreed upon between KWG and Spider to KWG's wholly-owned subsidiary, Debuts Diamonds Inc. ("Debuts"), in exchange for Debut's interest in various diamond exploration (OOTC:DIXFF) projects and a number of common shares of Debuts to be specified, and will distribute all of the outstanding common shares of Debuts to the shareholders of record of KWG.
If I'm wrong about this... I stand corrected.
SRV
