Mongolia Growth Group Ltd. Announces the Appointment of Byambaa Losolsuren to the Board of Directors

Calgary, Alberta CANADA, April 25, 2011 /FSC/ - Mongolia Growth Group Ltd. (YAK - CNSX),is pleased to announce the appointment of Byambaa Losolsuren to the board of directors of MGG. Byambaa has extensive experience in Mongolian finance having worked for the Asian Development Bank as an investment officer and as a consultant to the Financial Regulatory Commission (FRC) in Mongolia. She is currently a partner and chief economist at UMC Group, MGG's partner in its recently announced insurance venture.

"As a company doing business in Mongolia, a local perspective is critical in all business endeavors. Byambaa strongly complements our existing board with her knowledge." said Harris Kupperman, President and CEO of Mongolia Growth Group Ltd. "Byambaa is well respected in Mongolia and we are delighted to welcome her to the board of MGG."

"I am equally honored and pleased to be appointed as a member of MGG. By being able to bring to the board intrinsic knowledge about the financial sector and insights of business practices of Mongolia, I hope to serve the best interests of the Company and its shareholders," Byambaa said.

Upon joining the board of MGG, Mrs. Byambaa has been granted 75,000 3-year stock options to purchase shares of MGG. In addition, twenty-two Mongolian employees of MGG have been granted a total of 465,000 5-year stock options to purchase shares of MGG, and five consultants to both UMC and MGG have been granted a total of 360,000 5-year stock options for services rendered in accounting and other operational activities; all pursuant to the Company's stock option plan. All aforementioned options will have a strike price that is the higher of the April 25 or April 26, 2011 closing price of MGG shares.

For further information, please visit the Company's website at

Or contact: Jordan Calonego, interim Chief Financial Officer
(807) 622-9909


Harris Kupperman, Chief Executive Officer

Forward-looking Information Cautionary Statement

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, changes in the business environment that might impact the intended use of proceeds and changes in the intention of the parties to subscribe to the private placement. There are uncertainties inherent in forward-looking information, including factors beyond MGG's control. MGG undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by 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 The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Source:Mongolia Growth Group



Post a Comment

Facebook page

Powered by Blogger.


Advertising in Mongolia An Culture Editorial of the Mongolianviews education Environmental protection Famous Mongolians Foreigners in Mongolia Inner Mongolia Ivanhoe Mines Mongolia agriculture Mongolia analysis Mongolia and Australia Mongolia and Belorussia Mongolia and Cambodia Mongolia and Canada Mongolia and central Asia Mongolia and China Mongolia and Cuba Mongolia and EU Mongolia and Germany Mongolia and Hongkong Mongolia and Hungary Mongolia and India Mongolia and Inner Mongolia Mongolia and Iran Mongolia and Israel Mongolia and Italy Mongolia and Japan Mongolia and Kazakhstan Mongolia and Korea Mongolia and Kuwait Mongolia and Kyrgyzstan Mongolia and Malaysia Mongolia and Nato Mongolia and North Korean Mongolia and Poland Mongolia and Russia Mongolia and Singapore Mongolia and South Korea Mongolia and Taiwan Mongolia and the world Mongolia and Tibet Mongolia and Turkey Mongolia and UK Mongolia and Ukraine Mongolia and UN Mongolia and US Mongolia and USA Mongolia and Vietnam Mongolia Banking Mongolia civic society Mongolia crime Mongolia diplomacy Mongolia Economy Mongolia Education Mongolia Energy Mongolia Finance Mongolia Health Mongolia History Mongolia holiday Mongolia in international media Mongolia Industries Mongolia Joke Mongolia law Mongolia LGBT Mongolia medical Mongolia military Mongolia Mining Mongolia Mining Developments Mongolia Mortgage Mongolia natural disaster Mongolia Petroleum Mongolia public announcements Mongolia railways Mongolia Religion Mongolia society Mongolia Sports Mongolia Stamp Mongolia telecommunication Mongolia tourism Mongolia Urbanization Mongolia Wild Life Mongolian Agriculture Mongolian Archeology Mongolian Food Mongolian Gay Mongolian Government news Mongolian History Mongolian Military Mongolian Mining Development Mongolian Movie Mongolian News Mongolian Parliament Mongolian Political news Mongolian Press Mongolian Songs Mongolian Women Mongolian Youth Mongolians abroad Moninfo Opinion Oyu Tolgoi Investment Agreement Photo news Press Release Rio Tinto Tavan Tolgoi coal mine Ulaanbaatar development Weird expatriates in Mongolia

Blog Archive