Steppe Gold Limited (TSX: STGO) – Amendment to Stream and payment of Promissory Note 1 TSX Symbol: STGO Total Basic Shares O/S (M): 41.6 MATTHEW WOOD Chairman, President and CEO BATAA TUMUR-OCHIR Director and Executive Vice President Mongolia
TSX: STGO
September 30, 2019
TORONTO -- Steppe Gold Limited (TSX: STGO) (the “Company” or “Steppe CAPITALIZATION Gold”) is pleased to announce that it has entered into an agreement to TSX Symbol: STGO
amend (the “Amendment”) the terms of its existing gold stream with Triple Total Basic Shares O/S (M): 41.6
Flag Mining Finance Bermuda Ltd. (“Triple Flag Bermuda”).
BOARD OF DIRECTORS
Under the terms of the amendment Triple Flag Bermuda advanced an
MATTHEW WOOD
additional deposit of US$5 million to Steppe Gold, bringing the total amount Chairman, President and CEO advanced to Steppe Gold by Triple Flag Bermuda under the gold stream to
BATAA TUMUR-OCHIR
Director and Executive Vice President Mongolia US$28 million.
ANEEL WARAICH
Director and Executive Vice President The proceeds received from Triple Flag Bermuda were used to repay the final
PATRICK MICHAELS
US$5 million promissory note issued as part of the purchase price for the Director acquisition by the Company of the ATO Project. The purchase price for the ATO Project has now been paid in full.
DR. ZAMBA BATJARGAL
Director
As consideration for the additional advance of US$5 million, the parties agreed
SEREENEN JATGJARGAL
to reduce the variable gold and silver price payable by Triple Flag Bermuda on Director delivery of gold and silver from 30% to 17% of the relevant market price. As BATKHUU BUDNYAM additional consideration, Steppe West LLC, a wholly owned subsidiary of Director Steppe Gold, granted a 3% net smelter returns royalty to a subsidiary of Triple Flag Bermuda on minerals derived from the Uudam Khundii property owned
STEVE HAGGARTY
Director by Corundum Geo LLC, an 80% owned subsidiary of Steppe West LLC.
ABOUT STEPPE GOLD CONTACT INFORMATION Steppe Gold Steppe Gold is a precious metals development company with THE COMPANY’S HEAD OFFICE:
Shangri-La office, Suite 1201, Olympic street an aggressive growth strategy to build Steppe Gold into the premier 19A, Sukhbaatar District 1, Ulaanbaatar 14241, Mongolia precious metals company in Mongolia. The Company owns 100% of the
advanced stage Altan Tsaagan Ovoo Gold Project where a heap leach Tel: +976 7732 1914
development has been completed.
TORONTO OFFICE:
90 Adelaide Street. W, Suite 400 Toronto, ON M5H 3V9, Canada Tel: +1 647 697 0577
TRANSFER AGENT:
Lori Winchester Senior Relationship Manager, Client Management
Phone: +1 416 607-7898 Cell: +1 416 671-4558 Email: [email protected]
Steppe Gold Limited (TSX: STGO) – Amendment to Stream and payment of Promissory