SouthGobi Resources Ltd. (TSX:SGQ) (OTC:SGQRF) states that Land Breeze has agreed to sell all of its interests in SouthGobi, including 64.76 million common shares and the $250 million convertible debenture dated November 19, 2009, to JD Zhixing Fund LP.
In connection with the Sale Transaction, Land Breeze and affiliate Fullbloom Investment Corp have agreed to assign JD Zhixing Fund all of the respective rights in and obligations in SouthGobi Debenture, cooperation, deferral agreements, and the security holders agreement.
Price Action: SGQ shares traded higher by 2.86% at C$0.18 on the last check Friday.
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