2013-01-05 00:37:23 -
Ulaanbaatar, Mongolia, January 04, 2013 /FSC/ - Mongolia Growth Group Ltd. (YAK - CNSX"MGG" or the "Corporation") announces the Corporation's application to the TSX Venture Exchange ("TSXV") for the listing of the Corporation's common shares on the TSXV. Such listing is expected to take place in early January 2013 under the symbol YAK (the "Listing If the application to the TSXV is successful, immediately prior to the Listing, the Corporation intends to have the Corporation's common shares delisted from the Canadian National Stock Exchange ("CNSX
MGG also announces that, on December 19, 2012, Genevieve Walkden resigned as Corporate Secretary and as an officer of the Corporation. One of the conditions of listing on the TSXV was the placing of all
shares owned by management into escrow agreements with new sale restrictions. Genevieve Walkden could not comply with the terms of the escrow agreement as certain of her shares are held by retirement accounts that are not able to release the shares into an escrow agreement. Ms. Walkden will remain with the Corporation as Director of Operations for the Corporation's property subsidiary, based in the Ulaanbaatar office. Jordan Calonego, MGG's Chief Operating Officer, has been appointed Corporate Secretary.
About Mongolia Growth Group Ltd.
Mongolia Growth Group Ltd. is an Alberta, Canada corporation that is primarily engaged in the operation of real estate and financial services businesses in Mongolia. The Corporation's real estate operations are focused on leasable properties in the capital city of Mongolia - Ulaanbaatar. As of December 31, 2012, MGG owned 21 residential units, over 6,100 sq. m of retail space, 5,300 sq. m of office space and the right to redevelop 14,000sq. m of land. The Corporation's financial services operations are conducted through Mandal General Insurance, which is active in both retail and commercial insurance.
For further information on the Corporation, please visit
Forward-looking Information and Statements
This press release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expected", "intends" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the foregoing, this press release contains forward-looking information and statements pertaining to, among other things, expectations regarding the listing of MGG's common shares on the TSXV, the timing of any such listing of MGG's common shares on the TSXV and the delisting of MGG's common shares from the CNSX.
MGG believes the material factors, expectations and assumptions reflected in the forward-looking information and statements are reasonable at this time but no assurance can be given that these factors, expectations and assumptions will prove to be correct. The forward-looking information and statements included in this press release are not guarantees of future performance and should not be unduly relied upon. Such information and statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information or statements including, without limitation: delays or uncertainties with regard to the application made to the TSXV for the listing of the Corporation's common shares on the TSXV and delays or uncertainties with regard to the delisting of the Corporation's common shares from the CNSX and any approvals required therefor. Additional information identifying risks and uncertainties that could affect financial results is contained in MGG's filings with Canadian securities regulators, copies of which are available on MGG's SEDAR profile at www.sedar.com .
The forward-looking information and statements contained in this press release speak only as of the date of this press release, and MGG does not assume any obligation to publicly update or revise them to reflect new events or circumstances, except as may be required pursuant to applicable laws.
Neither the TSX Venture Exchange nor the Canadian National Stock Exchange has reviewed this release or accepts responsibility for the adequacy or accuracy of this release
To view this press release as a webpage, please click on the following link:
Source: Mongolia Growth Group Ltd. (CNSX - YAK)
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