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Od Sar Trading Co. announced that on July 9, 2026 it acquired from JD Zhixing Fund L.P. US$19,000,000 of accrued payment-in-kind interest under SouthGobi Resources’ US$250,000,000 secured convertible debenture. The PIK interest is payable in SouthGobi common shares, determined using a 50-day VWAP.
Using a July 10, 2026 VWAP of about CAD$0.3272 (US$0.2313), the assigned interest would entitle Od Sar to approximately 82,144,401 shares, or about 21.66% of SouthGobi on an undiluted basis, assuming 297,051,666 shares outstanding. Od Sar has already demanded payment of US$17,000,000 of this interest and expects to receive 73,497,622 shares, representing about 19.83% of SouthGobi on an undiluted basis.