VANCOUVER, BC / ACCESSWIRE / Could 27, 2022 / SouthGobi Sources Ltd. (TSX:SGQ, HK:1878) (“SouthGobi” or the “Firm“) publicizes that, as disclosed within the press launch issued by Land Breeze II S.à.r.l. (“Land Breeze“) on Could 26, 2022, Land Breeze has entered into an settlement to promote (the “Sale Transaction“) all of its pursuits within the Firm, together with its 64,766,591 frequent shares of the Firm and the US$250 million convertible debenture dated November 19, 2009 (the “Convertible Debenture“) to JD Zhixing Fund LP (the “Purchaser“). As disclosed within the Land Breeze Press Launch, completion of the Sale Transaction is topic to the satisfaction of sure circumstances precedent.
In reference to the Sale Transaction, Land Breeze and Fullbloom Funding Company (“Fullbloom“), an affiliate of Land Breeze, have agreed to assign (the “Task“) to the Purchaser all of Land Breeze’s and Fullbloom’s respective rights in and obligations underneath: (i) the Convertible Debenture and associated safety paperwork; (ii) the amended and restated cooperation settlement amongst Fullbloom, the Firm and SouthGobi Sands LLC (the “Cooperation Settlement“) and associated paperwork; (iii) the deferral agreements between Land Breeze, the Firm and sure of its subsidiaries in reference to the deferral of curiosity funds and different excellent charges underneath the Convertible Debenture and the Cooperation Settlement; and (iv) the safety holders settlement between the Firm, Land Breeze and a former shareholder of the Firm.
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The Firm will make an extra announcement concerning the completion of the Sale Transaction and associated Task as and when acceptable.
About SouthGobi
SouthGobi, listed on the Toronto and Hong Kong inventory exchanges, owns and operates its flagship Ovoot Tolgoi coal mine in Mongolia. It additionally holds the mining licences of its different metallurgical and thermal coal deposits in South Gobi area of Mongolia. SouthGobi produces and sells coal to clients in China.
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Investor Relations
Workplace: +852 2156 1438 (Hong Kong)
+1 604 762 6783 (Canada)
E-mail: [email protected]
Web site: www.southgobi.com
Ahead-Wanting Statements
Sure data included on this press launch that isn’t present or historic factual data constitutes forward-looking statements or data inside the that means of relevant securities legal guidelines (collectively, “forward-looking statements”), together with details about the completion of the Sale Transaction and associated Task. Ahead-looking statements are regularly characterised by phrases corresponding to “plan”, “count on”, “venture”, “intend”, “consider”, “anticipate”, “might”, “ought to”, “search”, “possible”, “estimate” and different related phrases or statements that sure occasions or circumstances “might” or “will” happen. Ahead-looking statements are primarily based on sure elements and assumptions together with, amongst different issues, the satisfaction of the situation precedents to the Sale Transaction and different related elements which will trigger precise outcomes to vary materially from what the Firm at present expects. Precise outcomes might range from the forward-looking statements. Readers are cautioned to not place undue significance on forward-looking statements, which speaks solely as of the date of this disclosure, and to not depend upon this data as of another date. Whereas the Firm might elect to, it’s underneath no obligation and doesn’t undertake to, replace or revise any forward-looking statements, whether or not because of new data, additional occasions or in any other case at any explicit time, besides as required by legislation. Extra data regarding elements which will trigger precise outcomes to materially differ from these in such forward-looking statements is contained within the Firm’s filings with Canadian securities regulatory authorities and might be discovered underneath the Firm’s profile on SEDAR at www.sedar.com.
SOURCE: SouthGobi Sources Ltd.
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