MGG ANNOUNCES PLAN TO BUY ITS COMMON SHARES

Toronto, Ontario (FSCwire) - Mongolia Growth Group  Ltd. (the “Company”) (YAK – TSXV and MNGGF –  USA), announced today that TSX Venture Exchange (the “Exchange”) has accepted a Notice of Intention to make a normal course issuer bid (the “Bid”) to purchase up to 2,950,000 common shares (representing up to approximately 8.3 % of the 35,512,829 common shares of the Company currently issued and outstanding, or approximately 9.9% of the 29,825,579 common shares constituting the Company’s current Public Float (as that term is defined in the policies of the Exchange)) from time to time during the next 12 months.  In accordance with the Policies of the Exchange, the maximum number of common shares that may be purchased under the Bid in any 30-day period may not exceed 2% of the issued and outstanding common shares of the Company when aggregated with all other common shares purchased under the Bid in the preceding 30 days.

The Company is undertaking the Bid because, in the opinion of its board of directors, the market price of its common shares, from time to time, may not fully reflect the underlying value of its operations and future growth prospects. The Company believes that in such circumstances, the purchase of the common shares of the Company may represent an appropriate and desirable use of the Company’s funds and further enhance market stability.

The Company has retained M Partners Inc. of Toronto, Ontario as its broker Member for the purposes of conducting the bid.  The purchases may begin Tuesday, February 23, 2016 and the Bid will end no later than February 22, 2017.  The common shares will be purchased for cancellation on the open market through the facilities of the Exchange, at market price. 

In the past 12 months, the Company has not purchased any of its common shares.

Source:www.stockhouse.com