Skip to main content

SouthGobi Announces Initiation of Delisting Review By TSX

Written by Customer Service on . Posted in Public Companies.

VANCOUVER, British Columbia, Sept. 13, 2020 (GLOBE NEWSWIRE) — SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi” or the “Company”) announces that it was notified by the Toronto Stock Exchange (“TSX”) on September 11, 2020 that it is reviewing the eligibility for continued listing of the Company’s common shares on the TSX pursuant to the TSX’s Remedial Review Process (“TSX Delisting Review”). The Company has been granted 120 days from the date of this notification to remedy the following delisting criteria, as well as any other delisting criteria that become applicable during the Remedial Review Process: (i) financial condition and/or operating results; (ii) adequate working capital and appropriate capital structure; and (iii) disclosure issues (collectively, the “Delisting Criteria”).
The TSX Continued Listing Committee has scheduled a meeting to be held on January 7, 2021 to consider whether or not to suspend trading in and delist the shares of the Company on TSX. If the Company fails to demonstrate to the TSX that no Delisting Criteria remain applicable on or before January 11, 2021, the Company’s common shares will be delisted from the TSX 30 days from such date.The Company is evaluating its options and action plan with respect to the TSX Delisting Review and will make further announcements with respect to this matter as and when appropriate.About SouthGobi
SouthGobi, listed on the Toronto and Hong Kong stock exchanges, owns and operates its flagship Ovoot Tolgoi coal mine in Mongolia.  SouthGobi produces and sells coal to customers in China.Contact:Investor RelationsOffice: +852 2156 1438 (Hong Kong)                                                                                               
+1 604 762 6783 (Canada)
Email: info@southgobi.comWebsite: www.southgobi.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.