SouthGobi Announces Implementation Progress of Resumption Plan and Business Update

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VANCOUVER, British Columbia, Jan. 11, 2021 (GLOBE NEWSWIRE) -- SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi” or the “Company”) announces implementation progress of its resumption plan and business update. Reference is made to the announcements of the Company dated November 16, 2020 and December 8, 2020 (the “Announcements”). Unless otherwise defined herein, terms used in this announcement shall have the same meanings as those defined in the Announcements.

RESUMPTION GUIDANCE

As stated in the Announcements of the Company, the Hong Kong Stock Exchange has set out the Resumption Guidance for the Company as below:

  • publish all outstanding financial results and address any audit modifications;
  • inform the market of all material information for the Company’s shareholders and investors to appraise its position;
  • announce quarterly updates on the Company’s developments under Rules 13.24A of the Listing Rules, including, amongst other relevant matters, its business operations, its resumption plan and the progress of implementation;
  • resolve issues arising from the Cease Trade Order and/or the TSX Delisting Review, or take steps to the satisfaction of the Hong Kong Stock Exchange that the Company will be eligible for a primary listing on the Hong Kong Stock Exchange; and
  • demonstrate compliance with Rule 13.24 of the Hong Kong Listing Rules.