Mongolia Growth wraps C$14.86 million private placement of stock

Proceeds fund insurance company, real estate purchases, investments

By Devika Patel

Knoxville, Tenn., April 8 - Mongolia Growth Group Ltd. said it settled a C$14.86 million non-brokered private placement of stock. The deal priced for C$10 million with a C$5 million greenshoe on March 21.

The company sold 11,257,923 common shares at C$1.32 apiece, a 37.14% discount to the March 18 closing share price of C$2.10.

Insiders William Fleckenstein invested C$2.05 million, Harris Kupperman invested C$1.32 million, Paulo Bilezikjian invested C$198,000, Jordan Calonego invested C$132,000 and Paul Sweeney also chipped in C$132,000.

Proceeds will be used to fund the recently announced insurance company, purchase leasable real estate, take advantage of investment opportunities and for general corporate purposes.

The Calgary, Alta., company operates a real estate businesses in Mongolia.

Issuer:	Mongolia Growth Group Ltd.
Issue:	Common shares
Amount:	C$14,860,458 (including C$4,860,458 greenshoe)
Shares:	11,257,923
Price:	C$1.32
Warrants:	No
Agent:	Non-brokered
Investors:	William Fleckenstein (for C$2,046,000), Harris Kupperman (for C$1.32 million), Paulo Bilezikjian (for C$198,000), Jordan Calonego (for C$132,000) and Paul Sweeney (for C$132,000)
Pricing date:	March 21
Settlement date:	April 8
Stock symbol:	CNSX: YAK
Stock price:	C$2.10 at close March 18

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