Mongolia Growth Group Ltd. Announces Issuance of Stock Options and Settlement of Outstanding Debt
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TORONTO, Ontario, April 2, 2015 /FSC/- Mongolia Growth Group Ltd. (YAK – TSXV)
Mongolia Growth Group Ltd. (“MGG” or the “Company”) announces that subject to the approval of the TSX Venture Exchange, the Company intends to issue a total of 640,691 common shares of the Company at a price of CDN $0.82 per share in settlement of outstanding amounts owed by the Company in the amount of US $420,000. On issuance, the shares will be subject to a four month hold period from the date of issuance.
The Company also announces today that a total of 935,000 5-year, stock options to purchase shares of MGG at an exercise price of CDN $0.72 per share have been granted to employees and a consultant of MGG subject to TSX Venture Exchange approval. These options have been issued pursuant to the Company’s Stock Option Plan in order to attract, retain and motivate new and existing employees and consultants of the Company.
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