Business
Kupperman Files Early Warning Report in Connection with Acquisition of Common Shares
TORONTO, ON / ACCESSWIRE / October 20, 2021 / Mongolia Growth Group Ltd. (TSXV:YAK)(OTC PINK...
About this update from Mongolia Growth Group Ltd.
[{"type":"text","content":"Kupperman Files Early Warning Report in Connection with Acquisition of Common SharesTORONTO, ON / ACCESSWIRE / October 20, 2021 / Mongolia Growth Group Ltd. (TSXV:YAK)(OTC PINK:MNGGF) (\"MGG\") or (\"the Company\") a commercial real estate investment company participating in the Mongolian economy, announces that Mr. Harris Kupperman reports that he has acquired (the \"Acquisition\") ownership and control of an additional aggregate 25,000 common shares (the \"Shares\") of Mongolia Growth Group Ltd. (TSXV: YAK) (the \"Issuer\").Mr. Kupperman filed an early warning report on April 20, 2021, that reported that he held 6,585,000 common shares, representing approximately 21.9% of the Issuer's then issued and outstanding common shares. Prior to the Acquisition, Mr. Kupperman held an aggregate of 6,750,000 common shares, representing approximately 23.8% of the issued and outstanding common shares.Following the Acquisition, Mr. Kupperman has ownership and control of 6,775,000 common shares of the Issuer representing approximately 23.8% of the 28,415,999 issued and outstanding common shares of the Issuer. The Acquisition occurred through multiple purchases of common shares of the Issuer on the TSX Venture Exchange on October 20, 2021 for aggregate consideration in the amount of $29,855. This news release and the early warning report were filed due to Mr. Kupperman's current shareholding percentage of the issued and outstanding common shares of the Issuer representing an increase of 1% or more since his previously filed early warning report.This acquisition was made in reliance on the normal course purchase exemption in National Instrument 62-104. The purchase was at a price that did not exceed the market price for the Shares (determined in accordance with National Instrument 62-104) and the aggregate number of common shares acquired by Mr. Kupperman over the 12 months prior to October 20, 2021 inclusive of the Shares purchased on that date, represented less than 5% of the outstanding common shares of the Issuer at the beginning of that 12 month period. Mr. Kupperman may acquire up to 5% of the Issuers' issued and outstanding common shares over the next twelve months in reliance on the normal course purchase exemption in National Instrument 62-104.The Shares were acquired by Mr. Kupperman for investment purposes.A copy of the early warning...