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SouthGobi Announces the Closing of Novel Sunrise Transactions and First Quarter 2015 Operating Results
Apr. 24, 2015 10:12AM PST
Industrial MetalsSouthGobi Resources Ltd. (TSX:SGQ) announced the closing of the Novel Sunrise Investments Limited private placement and the closing of the sale and purchase agreement between Novel Sunrise and Turquoise Hill Resources Ltd.
SouthGobi Resources Ltd. (TSX:SGQ) announced the closing of the Novel Sunrise Investments Limited private placement and the closing of the sale and purchase agreement between Novel Sunrise and Turquoise Hill Resources Ltd. The company also issued its first quarter 2015 operating results.
As quoted in the market news,
The Company has been advised that the Novel SPA, as initially announced on February 24, 2015, closed on April 23, 2015 after receiving all necessary regulatory approvals. Pursuant to the Novel SPA, Novel Sunrise has purchased approximately 48.7 million common shares of the Company (each, a “Common Share”) from Turquoise Hill.
Click here for the full SouthGobi Resources Ltd. (TSX:SGQ) press release