Mongolia Growth Group Announces update to the Company’s Normal Course Issuer Bid Prime Broker

TORONTO, ON / ACCESSWIRE / August 25, 2023 / Mongolia Growth Group Ltd. (the "Company") (TSX V:YAK), announces that further to the press release dated March 23, 2023, its prime broker for the Normal Course Issuer Bid (the "NCIB"), M Partners Inc, has amalgamated with, and will continue under the name of, Research Capital Corporation. Research Capital is one of Canada's largest independent full-service investment dealers, and proudly traces its roots back to 1921. The Company's account has successfully been transferred to Research Capital, a self-clearing CIRO member. The Company does not expect this change to have any effect on its NCIB or the business.

The NCIB commenced on March 27, 2023, and will end March 26, 2024. The Company has purchased 242,600 out of the potential repurchase of up to 1,900,000 shares.

For further information please contact:

Genevieve Walkden, Corporate Secretary
877-644-1186
GWalkden@MongoliaGrowthGroup.com

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. This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. We seek safe harbour.

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.