2013-01-17 15:05:52 -
Ulaanbaatar, MONGOLIA, January 17, 2013 /FSC/ - Mongolia Growth Group Ltd.(YAK - TSX Venture)("MGG" or "The Company") is pleased to announce the appointment of John M. Shaw to the board of directors of MGG. John's career in real estate spans over 4 decades. During this time John has overseen the development and management of over 20 million square feet (2 million meters) of commercial and residential space with an inflation adjusted construction cost in excess of USD $50 billion dollars.
Most recently, John was Senior Vice President / General Manager of Opus Northwest, LLC of Denver Colorado with additional operations in Kansas City. During his 13 years in this position, he was responsible for all development work and oversaw the
construction of approximately 9.5 million square feet (950,000 meters) of commercial and residential space.
Currently, John is President of McWhinney where he oversees the entire McWhinney portfolio of commercial and community development projects along the front range of Colorado.
John has also supervised development projects for Rancon Financial Corporation, The Colorado Denver Technological Center, Crestone Investment Company, Victorio Realty Group, Price Development Company, General Growth Development, US Navy Civil Engineer Corps in Japan as the Officer In Charge Of Construction in the Republic of Vietnam from 1969-1970.
"It is a great honor to have someone with John's experience in development join the board of MGG," said Harris Kupperman, Chairman and CEO of Mongolia Growth Group. "As our company moves forward into the construction of international standard properties in Mongolia, John's insights will be invaluable."
"I am genuinely excited to have the opportunity to be involved in so dynamic an organization as Mongolia Growth Group and I look forward to assisting in the real estate program execution," said Mr. Shaw.
For further information on the Corporation, please visit www.mongoliagrowthgroup.
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. (CNSX - YAK)
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