Mongolian Mining Corp. (MOGLF): !! Big news hit just a couple of hours a...

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Thursday, 11/03/2016 1:20:02 PM

Thursday, November 03, 2016 1:20:02 PM

!! Big news hit just a couple of hours ago....term sheet approved! Was shocked to see it in "eastern" time....so looking like it is completely under the radar!!!

"The Company is pleased to announce that the Steering Committee, the Lenders and QGX have provided their support for the key commercial terms of the updated Debt Restructuring proposal attached hereto as Annex A (the “
Updated Debt Restructuring Proposal”). The Updated Debt
Restructuring Proposal contemplates the Noteholders, the Lenders and QGX accepting the proposed consideration (as detailed below, the “Proposed Consideration”) in full satisfaction of the outstanding principal amount and the interest accrued but unpaid under their respective
indebtedness. The Proposed Consideration comprises of: (i) the First Ranking Senior Secured Facility, (ii) the New Senior Secured Notes, (iii) the Perpetual Notes, and (iv) the New Shares"

http://www.mmc.mn/upload/2016-11-03_e_00975ann-20161103.pdf