Business
Mongolia Growth Group Announces the Proposed Sale of Its Office Property and KEDM Business
TORONTO, ON / ACCESS Newswire / August 27, 2025 / Mongolia Growth Group Ltd. (TSXV:YAK),("MG...
About this update from Mongolia Growth Group Ltd.
[{"type":"text","content":"Mongolia Growth Group Announces the Proposed Sale of Its Office Property and KEDM BusinessTORONTO, ON / ACCESS Newswire / August 27, 2025 / Mongolia Growth Group Ltd. (TSXV:YAK),(\"MGG\" or the \"Company\") announces that the Company has entered into a definitive agreement (the \"Office Sale Agreement\") to sell its office building in Rincon, Puerto Rico for USD$1.45 million (the \"Office Sale Transaction\") and has entered into a definitive agreement (the \"KEDM Agreement\") to sell its KEDM business for consideration of the assumption of all obligations related to the deferred revenues associated with the KEDM business up to and including October 31, 2025 (the \"KEDM Transaction\").The Office Sale Transaction and the KEDM Transaction are part of the Company's previously announced planned review of its business operations, with an intention to distribute certain of the Company's cash assets to shareholders. Any distribution of cash assets will be subject to further review and consideration by the board of directors, including the most efficient and appropriate manner to complete the same.The Office Sale TransactionThe office property, which is a fully furnished office property in Rincon, Puerto Rico used as a corporate headquarters, was purchased by the Company (through Lemontree PR LLC) in June 2021 for a purchase price of USD$650,000 (plus closing fees). The office property is comprised of 3,655 square feet of gross leasable area, and is currently 75% leased, generating net operating income of USD$5,000 per month.Pursuant to the Office Sale Transaction, Lemontree LLC, an entity owned by Harris Kupperman, the Chairman and Chief Executive Officer of the Company, has agreed to purchase the office property for USD$1.45 million. The Office Sale Transaction is subject to standard terms and conditions for transactions of this nature, and in addition to the foregoing, is subject to shareholder approval in the manner described below at the annual and special meeting of shareholders of the Company currently scheduled for October 7, 2025 (the \"Meeting\"). The office property was recently appraised by an independent appraisal firm with a current valuation of USD$1.3 million.The KEDM TransactionThe Company has built a subscription based financial data product known as KEDM, which helps investors monitor various event-driven opportunities...