Mongolia Growth Group Ltd. Announces Issuance of Employee Stock Options
PR-Inside.com: 2014-03-03 14:19:32
THUNDER BAY, Ontario, March 03, 2014 /FSC/ - Mongolia Growth Group Ltd. (YAK - TSX Venture"MGG" or the "Company") announces that 936,000 5-year stock options to purchase shares of MGG at a price of $1.90 per share have been issued to salaried employees of MGG and its wholly owned Mongolian subsidiary pursuant to the Company's stock option plan.
192,000 5-year stock options to purchase shares of MGG at a price of $1.90 per share have been issued to 4 Board members of MGG as part of their annual director compensation.
35,000 3-year consultant stock options have been issued to 1 consultant based in North America at a price of $1.90 per share.
These options have been issued in order to retain and motivate new and existing employees, consultants and directors of the Company. These option grants include the previously disclosed grant of 531,000 options to Paul Byrne, the Company's new Chief Executive Officer.
For further information on the Corporation, please visit www.mongoliagrowthgroup.com
Forward-looking Information and Statements
Information and statements contained in this news release that are not historical facts are "forward-looking information" within the meaning of applicable Canadian securities legislation and involve risks and uncertainties. Forward-looking information and statements contained in this news release include information with respect to our intention to move forward into the construction of international standard properties in Mongolia.
Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. MGG cautions the reader that such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: risks associated with investment in and development of real property in Mongolia and the insurance business in Mongolia; competition, financing and refinancing risks; risks related to economic conditions; risks related to regulation of the real estate and insurance business in Mongolia; political risk in Mongolia; changes in Mongolian taxation rules; claims against our insurance policies differing from our assumptions; reliance on key personnel; environmental matters; tenant and policyholder risks; risk of insurance fraud; and other risk factors more particularly described in in MGG's filings with Canadian securities regulators, which filings are available at www.sedar.com. Additional risks and uncertainties not presently known to MGG or that MGG currently believes to be less significant may also adversely affect MGG. Forward-looking information is designed to help you understand management's current views of our near and longer term prospects, and it may not be appropriate for other purposes. MGG does not undertake any obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise, except to the extent legally required.
The TSXV has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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Source: Mongolia Growth Group Ltd. (TSXV - YAK)
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