Steppe Gold Completes Equity Financing
Ulaanbaatar, Mongolia, January 30, 2020. Steppe Gold Ltd. (TSX:STGO) ("Steppe Gold" or the "Company") is pleased to announce that it has completed the final tranche of it previously announced non-brokered private placement. Under the offering the Company issued an aggregate of 2,612,222 common shares at a price of C$0.90 per share for aggregate gross proceeds of $2,351,000.
The common shares issued under the offering will be subject to a hold period in Canada expiring four months and one day from the closing date of the offering.
About Steppe Gold
Steppe Gold is Mongolia’s premier precious metals company and is projected to produce 60,000 ounces of gold from its ATO Gold Mine in 2020. The Company is also completing a feasibility study into the expansion of the ATO Mine to approximately 150,000 ounces of gold per annum.
Steppe Gold has been selected as "The Company of the Year" by the Ministry of Mining and Heavy Industries of Mongolia and "The Investment of the Year" by the Mineral and Petroleum Authority of Mongolia in 2019, respectively.
For Further information, please contact:
Matthew Wood, Executive Chairman Bataa Tumur-Ochir, CEO and President
Shangri-La office, Suite 1201, Olympic street 19A, Sukhbaatar District 1, Ulaanbaatar 14241, Mongolia Tel: +976 7732 1914
Cautionary Note Regarding Forward-Looking Statements:
The above contains forward-looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include:changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include, among other things, statements regarding the trading of the Common Shares and business, economic, and political conditions in Mongolia. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. We disclaim any intention or obligation to update or revise any forwardlooking statements whether as a result of new information, future events or otherwise, except as required by applicable law.