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VANCOUVER, BC / ACCESSWIRE / April 20, 2022 / SouthGobi Sources Ltd. (TSX:SGQ), (HK:1878) (“SouthGobi” or the “Firm“) publicizes that will probably be making an software (the “Itemizing Software“) to the TSX Enterprise Alternate (“TSX-V”) to record its frequent shares on the TSX-V. Together with the foregoing, the Firm will even apply for voluntary delisting (the “Voluntary Delisting Software“) of its frequent shares from the Toronto Inventory Alternate (“TSX“), topic to the Firm receiving approval from the TSX-V of the Itemizing Software.
Pursuant to Rule 19C.13A of the Guidelines Governing the Itemizing of Securities on the Hong Kong Inventory Alternate, the Firm intends to submit a written notification to the HKEX (the “Major Itemizing Software“) stating, amongst different issues, that will probably be in a position to absolutely adjust to the relevant Itemizing Guidelines in reference to the approval of the Itemizing Software and the Itemizing Software turning into efficient (“Efficient Date“), and such that its present secondary itemizing on the HKEX shall be transformed to a main itemizing (“Conversion“).
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Causes for the Itemizing Software
The board of administrators of the Firm decided that it’s in the very best curiosity of the Firm to hunt a list of the Firm’s frequent shares on the TSX-V, and to voluntary delist from the TSX, as a list on the TSX-V presents itemizing necessities which higher accommodate the Firm’s present operational and monetary place, whereas nonetheless offering shareholders with continued liquidity on a inventory trade which is acknowledged for its management in mining issuer listings.
If the Firm’s Itemizing Software is accepted by the TSX-V, it’s the Firm’s intention to take all cheap and prudent steps as required to record the Firm’s frequent shares that are at present listed on the TSX to the TSX-V, and submit all mandatory waivers and make all mandatory preparations to effectuate the Conversion, with out interruption or delay. There may be, nonetheless, no assure that the TSX-V will approve the Firm’s Itemizing Software. As of the date of this announcement, the Firm is unable to supply any anticipated Efficient Date for itemizing on the TSX-V, however the Firm will present updates as soon as additional info is offered.
The Firm’s frequent shares will stay listed on the TSX whereas the Itemizing Software and the Major Itemizing Software are beneath evaluation by the TSX-V and HKEX, respectively. Moreover, it’s anticipated that the Firm won’t be required to hunt shareholders’ approval for the delisting of its frequent shares from the TSX, as an appropriate different market would exist for the Firm’s frequent shares on or in regards to the anticipated delisting date, assuming that the Firm’s Itemizing Software to the TSX-V is profitable.
Major Itemizing Software on HKEX
The Firm intends to make an additional announcement as soon as the Major Itemizing Software has been submitted, together with info on, amongst others, (a) additional particulars of the Itemizing Software and the Efficient Date, (b) any exceptions, waivers, and exemptions from strict compliance with the Itemizing Guidelines that it intends to hunt from the HKEX, and (c) potential influence to shareholders and potential traders of any relevant transitional measures.
If there’s any inconsistency or discrepancy between the English model and the Chinese language model, the English model shall prevail.
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 prospects in China.
CONTACT:
Investor Relations
Workplace: +852 2156 1438 (Hong Kong)
+1 604 762 6783 (Canada)
E mail: [email protected]
Web site: www.southgobi.com
Ahead-Trying Statements
Sure info included on this press launch that’s not present or historic factual info constitutes forward-looking statements or info inside the which means of relevant securities legal guidelines (collectively, “forward-looking statements”), together with the Firm’s software to record its frequent shares on the TSX-V, the Firm’s software to the HKEX to transform its present itemizing on the HKEX to a main itemizing, the Firm’s software for a voluntary delisting of its frequent shares from the TSX and the Firm’s continued itemizing on the TSX whereas the Itemizing Software and Major Itemizing Software are beneath evaluation by the TSX-V and HKEX, respectively. Ahead-looking statements are ceaselessly characterised by phrases equivalent to “plan”, “count on”, “undertaking”, “intend”, “consider”, “anticipate”, “may”, “ought to”, “search”, “seemingly”, “estimate” and different comparable phrases or statements that sure occasions or situations “might” or “will” happen. Ahead-looking statements are primarily based on sure components and assumptions together with, amongst different issues, the flexibility of the Firm to fulfill the TSX-V’s itemizing necessities and the TSX-V approving the Itemizing Software, the flexibility of the Firm to fulfill the HKEX’s main itemizing necessities and the HKEX approving the Major Itemizing Software, the TSX approving the Voluntary Delisting Software and different comparable components 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 info as of another date. Whereas the Firm might elect to, it’s beneath no obligation and doesn’t undertake to, replace or revise any forward-looking statements, whether or not because of new info, additional occasions or in any other case at any explicit time, besides as required by legislation. Further info regarding components 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 could be discovered beneath the Firm’s profile on SEDAR at www.sedar.com.
SOURCE: SouthGobi Sources Ltd.
View supply model on accesswire.com:
https://www.accesswire.com/698280/Software-for-New-Itemizing-on-the-TSX-Enterprise-Alternate-and-Major-Itemizing-on-the-Hong-Kong-Inventory-Alternate
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