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SouthGobi Announces Disclosable and Connected Transaction Deferral of Payment Obligations Under Convertible Debenture and Amended and Restated Cooperation Agreement
HONG KONG, HK / ACCESS Newswire / March 23, 2026 / SouthGobi Resources Ltd. (TSX-V:SGQ)(HK:187...
About this update from Southgobi Resources Ltd.
[{"type":"text","content":"SouthGobi Announces Disclosable and Connected Transaction Deferral of Payment Obligations Under Convertible Debenture and Amended and Restated Cooperation AgreementHONG KONG, HK / ACCESS Newswire / March 23, 2026 / SouthGobi Resources Ltd. (TSX-V:SGQ)(HK:1878) (\"SouthGobi\" or the \"Company\") announces that reference is made to the announcements of the Company dated November 11, 2022, March 26, 2023, August 30, 2023, October 13, 2023, November 17, 2023, January 19, 2024, March 19, 2024, April 30, 2024, and March 20, 2025 (collectively, the \"Announcements\") and the management proxy circular of the Company dated May 13, 2025 (the \"May 2025 Management Proxy Circular\") in relation to the deferral agreements under the Convertible Debenture (as defined below). Unless otherwise specified, terms used in this announcement shall have the meaning as defined in the Announcements and the July 2024 Management Proxy Circular.The March 2026 Deferral AgreementThe Company announces that, on March 23, 2026, the Company and two of its subsidiaries, namely Southgobi Sands LLC and SGQ Coal Investment PTE. Ltd. (the \"Guarantors\"), entered into a new deferral agreement (the \"March 2026 Deferral Agreement\") with JD Zhixing Fund L.P. (\"JDZF\"), the registered holder of the Company's US$250 million Convertible Debenture issued on November 19, 2009 (the \"Convertible Debenture\") and the Company's largest shareholder, pursuant to which JDZF agreed to grant the Company:a deferral of the cash interest, payment-in-kind interest (\"PIK Interest\") and management fees of approximately US$140.5 million (the \"2025 Deferred Amounts\") which will be due and payable to JDZF on or before August 31, 2026 pursuant to the deferral agreement dated March 20, 2025;a deferral of the cash interest payment of approximately US$7.9 million (the \"May 2026 Cash Interest\") which will be due and payable to JDZF on May 19, 2026 under the Convertible Debenture;a deferral of the cash interest of approximately US$8.1 million and PIK Interest (the \"November 2026 PIK Interest\") of approximately US$4.0 million (collectively, the \"November 2026 Cash and PIK Interest\") which will be due and payable to JDZF in each case on November 19, 2026 under the Convertible Debenture; anda deferral of the management fees of approximately US$7.6 million which will be due and payable to ...