SouthGobi Announces Implementation Development of Resumption Approach and Business enterprise Update

VANCOUVER, British Columbia, Jan. 11, 2021 (World NEWSWIRE) — SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi” or the “Company”) announces implementation progress of its resumption strategy and business enterprise update. Reference is made to the announcements of the Organization dated November 16, 2020 and December 8, 2020 (the “Bulletins”). Unless of course usually defined herein, conditions used in this announcement shall have the same meanings as those described in the Announcements.

RESUMPTION Assistance

As mentioned in the Bulletins of the Organization, the Hong Kong Stock Trade has set out the Resumption Steering for the Corporation as below:

publish all excellent monetary results and handle any audit modifications
inform the sector of all content info for the Company’s shareholders and buyers to appraise its place
announce quarterly updates on the Company’s developments less than Policies 13.24A of the Listing Guidelines, together with, among other related issues, its business operations, its resumption plan and the progress of implementation
solve troubles arising from the Cease Trade Buy and/or the TSX Delisting Overview, or acquire methods to the gratification of the Hong Kong Stock Exchange that the Corporation will be qualified for a most important listing on the Hong Kong Inventory Exchange and
reveal compliance with Rule 13.24 of the Hong Kong Listing Regulations.

RESUMPTION Strategy AND Development OF IMPLEMENTATION

The Organization has been using energetic steps to deal with and comply with the requirements set out in the Resumption Steering. The implementation standing of the resumption approach is as outlined underneath:&#13

Crucial merchandise	Position/ Anticipated timetable
2019 Audited Yearly Outcomes	Done and issued on November 26, 2020
2019 Yearly Report	Accomplished and dispatched on December 9, 2020
2020 Q1 Financial Final results	Completed and issued on December 17, 2020
2020 Q2 Monetary Outcomes	Concluded and issued on December 23, 2020
2020 Q3 Monetary Effects	Concluded and issued on January 4, 2021
Revocation of Cease Trade Purchase	The Organization submitted an software for a whole revocation of the CTO with the appropriate Canadian securities regulatory authorities on January 4, 2021. The Enterprise expects to obtain the Canadian securities regulatory authorities’ decision to revoke the CTO on or just before February 11, 2021 (Canada time)
TSX Delisting Assessment Listening to	The TSX Continued Listing Committee has scheduled a assembly on February 11, 2021 to think about regardless of whether or not to delist the Company’s securities on the TSX. The Business expects to acquire the TSX’s delisting determination on or in advance of February 16, 2021 (Canada time)
Application for HKEX investing resumption	The Corporation will post an application to HKEX on the revocation of the CTO and completion of the TSX Delisting Review course of action.

Business UPDATE

The Firm developed about .9 million tonne of coal in the fourth quarter of 2020, representing a 71% raise from the third quarter of 2020. The Company sold somewhere around .9 million tonne of coal in the fourth quarter of 2020, which is related to the profits volume for the 3rd quarter of 2020.

Continued SUSPENSION OF Trading

Investing in the prevalent shares of the Company on the Toronto Inventory Exchange and the Hong Kong Inventory Trade has been suspended given that June 19, 2020 and August 17, 2020 respectively and will keep on being suspended until additional detect.

About SouthGobi&#13

SouthGobi, shown on the Toronto and Hong Kong stock exchanges, owns and operates its flagship Ovoot Tolgoi coal mine in Mongolia. SouthGobi makes and sells coal to shoppers in China.

Make contact with:

Trader Relations

Business:	+852 2156 1438 (Hong Kong)
	+1 604 762 6783 (Canada)
E mail:	[email protected]

Website: www.southgobi.com

Ahead-Wanting Statements&#13

Sure information and facts included in this press release that is not recent or historical factual information constitutes ahead-on the lookout statements or facts within just the this means of relevant securities legislation (collectively, “forward-wanting statements”), which include data about the completion of the revocation of CTO, the TSX Delisting Critique Listening to and the application of HKEX investing resumption. Ahead-looking statements are regularly characterised by words and phrases these types of as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “could”, “must”, “look for”, “possible”, “estimate” and other identical terms or statements that particular occasions or ailments “may” or “will” take place. Ahead-wanting statements are primarily based on specific factors and assumptions together with, amid other factors, the completion of the revocation of CTO, the TSX Delisting Review Hearing and the application of HKEX investing resumption and other identical components that may possibly result in actual success to differ materially from what the Firm at present expects. Actual outcomes may possibly range from the forward-looking statements. Viewers are cautioned not to spot undue worth on forward-wanting statements, which speaks only as of the day of this disclosure, and not to depend upon this information as of any other date. Whilst the Organization may perhaps elect to, it is below no obligation and does not undertake to, update or revise any ahead-hunting statements, regardless of whether as a outcome of new details, more situations or otherwise at any particular time, except as required by regulation. Supplemental info relating to variables that may possibly cause real effects to materially differ from people in this sort of ahead-on the lookout statements is contained in the Company’s filings with Canadian securities regulatory authorities and the website of the Hong Kong regulatory filings and disclosures of shown issuer facts. These can be observed under the Company’s profile on SEDAR and HKEXnews respectively, at www.sedar.com and www.hkexnews.hk.