Home Listing rules Application for New Listing on TSX Venture Exchange and Main Listing on Hong Kong Stock Exchange

Application for New Listing on TSX Venture Exchange and Main Listing on Hong Kong Stock Exchange


VANCOUVER, BC /ACCESSWIRE/April 20, 2022/ South Gobi Resources Ltd. (TSX:SGQ), (HK:1878) (“SudGobi“or the”Company“) announces that it will file an application (the “Subscription request“) on the TSX Venture Exchange (“TSX-V ») to list its common shares on the TSX Venture Exchange. Along with the above, the Company will also seek voluntary delisting (the “Request for voluntary delisting“) of its common shares of the Toronto Stock Exchange (“TSX“), subject to the TSX-V Company’s approval of the listing application.

Pursuant to Rule 19C.13A of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong, the Company intends to submit a written notice to HKEX (the “Main registration request“) indicating, among other things, that it will be able to fully comply with the applicable listing rules in connection with the approval of the listing application and the entry into force of the listing application ( “Effective date“), and so that its current secondary listing on the HKEX will be converted to a primary listing (“Conversion“).

Reasons for applying for registration

The Board of Directors of the Company has determined that it is in the best interests of the Company to apply to list the common shares of the Company on the TSX-V and to voluntarily delist from the TSX, as a listing on the TSX-V offers listing requirements that better align with the Company’s current operational and financial situation, while providing shareholders with continued liquidity on an exchange recognized for its leadership in the registration of mining issuers.

If the Company’s listing application is approved by the TSX-V, the Company intends to take all reasonable and prudent steps necessary to list the Company’s common shares currently listed on the TSX with the TSX-V, and submit all waivers and make all arrangements necessary to effect the Conversion, without interruption or delay. There is, however, no guarantee that the TSX-V will approve the Company’s listing application. As of the date of this announcement, the Company is unable to provide an expected effective date for listing on the TSX Venture Exchange, but the Company will provide updates as further information becomes available. will be available.

The common shares of the Company will remain listed on the TSX while the listing application and the primary listing application are being reviewed by the TSX-V and HKEX, respectively. In addition, it is expected that the Company will not be required to seek shareholder approval for the delisting of its Common Shares from the TSX, as there would be an alternate acceptable market for the Company’s Common Shares at on or around the scheduled delisting date, assuming the Company’s application to list on the TSX-V is accepted.

Master Listing Application on HKEX

The Company intends to make a further announcement once the main listing application has been submitted, including information on, among other things, (a) additional details of the listing application and date of entry into force, (b) any exceptions, waivers and exemptions from strict compliance with the listing rules that it intends to request from the HKEX, and (c) the potential impact on shareholders and potential investors of any applicable transitional measures .

If there is any inconsistency or discrepancy between the English version and the Chinese version, the English version shall prevail.

About SouthGobi

SouthGobi, listed on the Toronto and Hong Kong stock exchanges, owns and operates its flagship Ovoot Tolgoi coal mine in Mongolia. It also holds the operating licenses for its other metallurgical and thermal coal deposits in the South Gobi region of Mongolia. SouthGobi produces and sells charcoal to customers in China.


Investor Relations
Office: +852 2156 1438 (Hong Kong)
+1 604 762 6783 (Canada)
E-mail: [email protected]
Website: www.southgobi.com

Forward-looking statements

Certain information included in this press release that is not current or historical factual information constitutes forward-looking statements or information within the meaning of applicable securities laws (collectively, “forward-looking statements”), including the request of the Company to list its common shares on TSX-V, the Company’s application on the HKEX to convert its current listing on the HKEX to a primary listing, the Company’s application for a voluntary delisting of its common shares from the TSX and the maintenance of the Company’s listing on the TSX while the listing application and primary listing application are under review by the TSX-V and HKEX, respectively. Forward-looking statements are often characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “could”, “should”, “seek”, “probable”, “estimate” and other similar words or statements indicating that certain events or conditions “may” or “will” occur. Forward-looking statements are based on certain factors and assumptions, including, among others, the Company’s ability to satisfy the listing requirements of the TSX-V and the TSX-V’s approval of the listing application, the Company’s ability to satisfy the principal requirements of the HKEX listing requirements and the HKEX approving the principal listing application, the TSX approving the voluntary delisting application and other similar factors which may cause results actuals differ materially from what the Company currently expects. Actual results may differ from forward-looking statements. Readers are cautioned not to place undue importance on forward-looking statements, which speak only as of the date of this disclosure, and not to rely on such information as of any other date. Although the Company may choose to do so, it is under no obligation and does not undertake to update or revise any forward-looking statements, whether as a result of new information, other events or otherwise any time, except as required by law. Additional information regarding factors that could cause actual results to differ materially from those contained in these forward-looking statements is contained in the Company’s filings with the Canadian securities regulatory authorities and may be viewed under the Company’s profile at SEDAR at www.sedar.com.

THE SOURCE: South Gobi Resources Ltd.

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