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SouthGobi Announces Fourth Quarter and Full Year 2021 Unaudited Financial and Operating Results and Postpones Filing Of 2021 Audited Consolidated Financial Statements and Annual Filings
HONG KONG, CHINA / ACCESSWIRE / March 30, 2022 / SouthGobi Resources Ltd. ( Toronto Stock Ex...
About this update from Southgobi Resources Ltd.
[{"type":"text","content":"SouthGobi Announces Fourth Quarter and Full Year 2021 Unaudited Financial and Operating Results and Postpones Filing Of 2021 Audited Consolidated Financial Statements and Annual FilingsHONG KONG, CHINA / ACCESSWIRE / March 30, 2022 / SouthGobi Resources Ltd. (Toronto Stock Exchange (\"TSX\"): SGQ, Hong Kong Stock Exchange (\"HKEX\"): 1878) (the \"Company\" or \"SouthGobi\") today announces its unaudited financial and operating results for the quarter and the year ended December 31, 2021. All figures are in U.S. dollars (\"USD\") unless otherwise stated.This announcement is made by the Company pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on the Hong Kong Stock Exchange (the \"Hong Kong Listing Rules\") and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).Reference is made to the announcement of the Company dated March 11 and 24, 2022 (the \"Announcements\"). As disclosed in the Announcements, the Company has been advised by the Company auditors (the \"Auditors\") that they will not be in a position to render an unmodified opinion on the Company's 2021 financial statements prior to the filing deadline of March 31, 2022 because they have not been able to obtain sufficient evidence to support management's going concern assumptions. Accordingly, the Company cautions that the financial results for its financial year ended December 31, 2021 disclosed herein are unaudited and have not been agreed upon with the Auditors. The unaudited financial results of the Company for the financial year ended December 31, 2021 disclosed herein were reviewed by the Audit Committee of the Company and approved and authorized for issue by the Board on March 30, 2022.The Company is postponing the filing of its audited consolidated financial statements for its financial year ended December 31, 2021, the accompanying Management's Discussion and Analysis of Financial Condition and Results of Operation (\"MD&A\") and its Annual Information Form for the financial year ended December 31, 2021 (collectively, the \"2021 Annual Filings\"), as a result of the Auditors being unable to complete the audit process for the Company's annual results for the year ended 2021 prior to the filing deadline for the 2021 Annual Filings.On March 17, 2022, the Company m...