Southgobi Announces Postponement of Special Meeting IN Relation to Deferral of Payment Obligations Under Convertible Debenture
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May 24, 2023
SOUTHGOBI ANNOUNCES POSTPONEMENT OF SPECIAL
MEETING IN RELATION TO DEFERRAL OF PAYMENT
OBLIGATIONS UNDER CONVERTIBLE DEBENTURE
VANCOUVER – SouthGobi Resources Ltd. (TSX-V: SGQ, HK: 1878) (“SouthGobi” or the
“Company”) announces that reference is made to (i) the announcement of the Company dated
March 26, 2023 (“ March 26 Announcement ”) in relation to the March 2023 Deferral
Agreement; and (ii) the announcement of the Company dated April 26, 2023 (“ April 26
Announcement”, together with March 26 Announcement, the “Announcements”) in relation
to the date of the Annual and Special Meeting and the Record Date. Capitalized terms us ed
in this announcement shall have the same meaning as those defined in the Announcements
unless otherwise defined.
BACKGROUND
As disclosed in the April 26 Announcement, the Annual and Special Meeting was originally
scheduled to convene on Tuesday, June 20, 2023, Vancouver time (i.e., Wednesday, June
21, 2023, Hong Kong time) in Vancouver, British Columbia, Canada, with a Record Date of
Thursday, May 11, 2023, Vancouver and Hong Kong time.
POSTPONEMENT OF SPECIAL MEETING
Due to the additional time required to prepare for and finalize the management proxy circular
setting out the details of the March 2023 Deferral Agreement (the “Special Meeting Circular”),
the Company expects a delay in despatch of the Special Meeting Circular. As a result, (i) the
date of the special meeting of the Shareholders to approve the March 2023 Deferral
Agreement (the “ Special Meeting ”); and (ii) the record date for the determination of the
Shareholders who are entitled to receive the notice of, and to attend and vote at, the S pecial
Meeting will be postponed to dates to be fixed and announced by the Board at a later date.
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Notwithstanding the foregoing, the annual general meeting of the Company (the “ Annual
Meeting”) will continue to convene on Tuesday, June 20, 2023, Vancouve r time (i.e.,
Wednesday, June 21, 2023, Hong Kong time) in Vancouver, British Columbia, Canada, and
the record date for the determination of the Shareholders who are entitled to receive the notice
of, and to attend and vote at, the Annual Meeting remains t he originally announced record
date, being Thursday, May 11, 2023, Vancouver and Hong Kong time.
A notice of the Annual Meeting which contains, amongst other things, the detailed agenda of
the Annual Meeting, along with a management proxy circular concerning matters to be
considered at the Annual Meeting, will be dispatched to the Shareholders on May 30, 2023.
About SouthGobi
SouthGobi, listed on the Hong Kong Stock Exchange and the TSX Venture Exchange, owns
and operates its flagship Ovoot Tolgoi coal mine in Mongolia. It also holds the mining licences
of its other metallurgical and thermal coal deposits in South Gobi region of Mongolia.
SouthGobi produces and sells coal to customers in China.
Contact:
Investor Relations
Email: [email protected]
Mr. Ruibin Xu
Chief Executive Officer
Office: +1 604 762 6783 (Canada)
+852 2156 1438 (Hong Kong)
Website: www.southgobi.com