Mongolia Growth Announces Closing of Office Sale Transaction
Mongolia Growth (OTC:MNGGF) completed the sale of its Rincón, Puerto Rico office building to an entity owned and controlled by Chairman and CEO Harris Kupperman for USD $1.45 million on December 4, 2025.
Rhea-AI Summary
Mongolia Growth (OTC:MNGGF) completed the sale of its Rincón, Puerto Rico office building to an entity owned and controlled by Chairman and CEO Harris Kupperman for USD $1.45 million on December 4, 2025.
The company said it will immediately wind down its Puerto Rican operations, continue corporate reorganization efforts and advance a planned return of capital to shareholders, with a further update expected before year-end.
Positive
- Office sale closed for USD $1.45 million
- Transaction completed on December 4, 2025
- Company plans a return of capital to shareholders
Negative
- Immediate wind-down of Puerto Rico operations
- Related-party buyer is entity owned by Chairman and CEO
Details
News Market Reaction – MNGGF
On Dec 4, the day this news came out, MNGGF closed 0.08% below the previous close.
Data tracked by StockTitan Argus for the Dec 4 session.
Key Figures
- Office sale price
- USD $1.45 million
- Sale of Rincón, Puerto Rico office building to CEO-controlled entity
- Deferred revenue assumed
- CAD $845,000
- KEDM purchaser assumed deferred revenue obligations to Oct 31, 2025
- Shares voted
- 14,550,463 shares
- Shares voted at Oct 7, 2025 annual and special meeting
- Voter participation
- 57.15%
- Percentage of shares voted at Oct 7, 2025 meeting
- Support for transactions
- 99.1%
- Shareholder approval for KEDM and Rincón property sales
- Original office cost
- USD $650,000
- Purchase price of Puerto Rico office in 2021
- KEDM H1 2025 revenue
- CAD $1.1 million
- Revenue generated by KEDM business in H1 2025
- Monthly NOI
- USD $5,000
- Net operating income from office property at time of proposed sale
Historical Context
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Closed sale of Rincón office and began winding down Puerto Rico operations.
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Closed KEDM sale and announced transfer of TSXV listing to NEX board.
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Shareholders approved director slate, auditor, and key asset sale transactions.
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Provided status update on proposed sales of KEDM business and Rincón property.
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Announced proposed sale of Puerto Rico office and KEDM business with key terms.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
return of capital financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
TORONTO, ON / ACCESS Newswire / December 4, 2025 / Mongolia Growth Group Ltd. (NEX:YAK.H, "MGG" or the "Company") is pleased to announce that it has completed the sale of its office building in Rincón, Puerto Rico, to an entity owned and controlled by Harris Kupperman, the Chairman and Chief Executive Officer of the Company, for USD
The Company continues to advance its corporate reorganization and planned return of capital to shareholders and plans to provide an update in due course.
For further information, please contact:
Genevieve Walkden
Corporate Secretary & Chief Financial Officer
Email: gwalkden@mongoliagrowthgroup.com
Phone: (877) 644-1186
Forward-Looking Information Disclaimer
This press release contains forward-looking information within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, winding down its operations in Puerto Rico and that the Company continues to advance its corporate reorganization and planned return of capital to shareholders and expects to provide a further update before the end of the year. These statements are subject to numerous risks and uncertainties, including advancement of the Company's return of capital plans, the decisions and directions of the Company's board, tax and regulatory considerations\ and market conditions. Actual results may differ materially. Readers are cautioned not to place undue reliance on these statements.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include general economic, market and business conditions, the regulatory process and actions, regulator and corporate approvals, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Company's capability to execute and implement its future plans. Actual results may differ materially from those projected by management. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Mongolia Growth Group Ltd.
View the original press release on ACCESS Newswire
FAQ
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