Mongolia Growth Group Ltd. Announces Private Placement Offering

Not for distribution to U.S. newswire services or for dissemination in the United States

Ulaanbaatar, MONGOLIA, May 30, 2012 - Mongolia Growth Group Ltd.
(YAK - CNSX) ("MGG" or "the Company") is pleased to announce a non-brokered "commercially reasonable efforts" private placement offering ("Offering") of common shares ("Common Shares") to raise gross proceeds of up to CDN$ 5 million. The Common Shares will be priced at CDN$ 3.90.

The Company intends to use the proceeds to purchase leasable real estate, to take advantage of investment opportunities and for general corporate purposes. The Offering is scheduled to close on or about June 22, 2012 (the "Closing Date"), and is subject to certain conditions, including but not limited to, receipt of all necessary approvals including the approval of the CNSX Exchange and the securities regulatory authorities.

The Common Shares issued in connection with this Offering will be subject to a four-month hold period from the Closing Date, as prescribed by the CNSX exchange and applicable securities laws.

For further information, please visit the Company's website at
www.mongoliagrowthgroup.com

Or contact:
Genevieve Walkden,
Sr. Vice President of Operations
Gwalkden@mongoliagrowthgroup.com
1 (807) 621-0711
1 (807) 346-8688

Forward-looking Information and Statements 

Except for statements of historic fact, this news release contains certain forward-looking information within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management relying on their experience at the date the statements are made, and are subject to a variety of risks, uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to: delays or uncertainties with regulatory approvals, including that of the CNSX or the Mongolian regulator(s); changes in the business environment that might impact the intended use of proceeds from the Transaction; the future state of the Mongolian economy; Mandal's future business prospects; the outlook of the insurance industry in Mongolia as a whole; the ability of increased equity ownership to affect the motivation of key employees of UMC Capital; the ability to identify transactions which would allow management of Mandal the opportunity to have increased discretion in managing the business; and the closing of the Transaction in general and pursuant to the time line outlined in this press release. There are uncertainties inherent in forward-looking information, including factors beyond MGG's control. The forward-looking information and statements contained in this press release speak only as of the date of this press release and MGG undertakes no obligation to publicly update or revise forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in MGG's filings with Canadian securities regulators, which filings are available at www.sedar.com.

THE CNSX HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

To view this press release as a web page, click onto the link below:
www.usetdas.com/PR/mongolia30052012.htm

Source: Mongolia Growth Group Ltd. (CNSX - YAK)
Maximum News Dissemination by FSCwire. http://www.fscwire.com

Comments

Popular posts from this blog