Business
Update on Listing Application in Canada
VANCOUVER, BC / ACCESSWIRE / March 6, 2023 / SouthGobi Resources Ltd. (TSX:SGQ)(HK:1878) (" Sout...
About this update from Southgobi Resources Ltd.
[{"type":"text","content":"Update on Listing Application in CanadaVANCOUVER, BC / ACCESSWIRE / March 6, 2023 / SouthGobi Resources Ltd. (TSX:SGQ)(HK:1878) (\"SouthGobi\" or the \"Company\") announces that reference is made to the announcements of the Company dated April 21, 2022, July 29, 2022, September 15, 2022, November 23, 2022, December 30, 2022, January 31, 2023 and February 28, 2023 (collectively, \"Announcements\"). Unless otherwise specified, capitalized terms used in the Announcements shall have the same meanings when used herein.The Company has been advised by the TSX-V that the TSX-V has reconsidered the Company's previous TSX-V Listing Application, and the TSX-V is prepared to grant approval for the Company's TSX-V Listing Application, once the Company is able to comply with certain listing conditions. In light of this change in circumstance, the board of directors of the Company convened and decided to renew their interest in listing the Company's common shares on the TSX-V (instead of the NEX) and resume the TSX-V Listing Application. The Company reiterates that the listing on the TSX-V offers more flexible listing requirements which better accommodate the Company's current operational and financial position, while still providing Shareholders with continued liquidity on a stock exchange / board which is more recognized than the NEX, especially for its leadership in mining issuer listings. The Company will not further proceed with the NEX Listing Application at this stage.The Company had received a conditional acceptance letter from the TSX-V (the \"TSX-V Conditional Approval Letter\") confirming that the TSX-V Listing Application had been approved subject to the satisfaction of certain listing conditions of the TSX-V. The Company is targeting a tentative date for the listing of the Company's common shares on the TSX-V and the date of Delisting from TSX (i.e., the Effective Date) of April 17, 2023. The Company expects that the listing conditions of the TSX-V can be fulfilled by the Company before the Effective Date. The Company will provide further updates closer to the Effective Date on the fulfilment status of the conditions set out in the TSX-V Conditional Approval Letter. Meanwhile, the Company's common shares will remain listed on the TSX until the Effective Date.There may exist certain uncertainties as to whether and when the TSX-V Li...