Steppe Gold President and CEO Announces Filing of Early Warning Report

Feb 16, 2022

ULAANBAATAR, Mongolia, Feb. 16, 2022 (GLOBE NEWSWIRE) -- Mr. Bataa Tumur-Ochir (“Mr. Tumur-Ochir”), the President and CEO of Steppe Gold Ltd. (the “Corporation”) announces that on January 27, 2022, the Corporation, Mr. Tumur-Ochir and the Development Bank of Mongolia (“DBM”) entered into a form of transfer (the “Transfer Agreement”). Pursuant to the Transfer Agreement, DBM agreed to transfer to Mr. Tumur-Ochir a convertible debenture of the Corporation (the “Convertible Debenture”) held by DBM with a principal amount of US$3,000,000 convertible into common shares of the Corporation (the “Shares”) at a price of US$0.68 per Share, with a maturity date of January 27, 2024.

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