TORONTO, ON / ACCESSWIRE / March 21, 2022 /Mongolia Growth Group Ltd. (the "Company") (TSX-V:YAK), announced today that TSX Venture Exchange (the "Exchange") has accepted a Notice of Intention to renews its normal course issuer bid to purchase outstanding common shares of the Company on the open market in accordance with the policies of the TSXV.

Pursuant to the NCIB, (the "Bid") the Company may acquire up to 1,935,000 common shares (representing up to approximately 6.97% of the 27,778,499 common shares of the Company currently issued and outstanding, or approximately 9.99% of the 19,362,249 common shares constituting the Company's current Public Float (as that term is defined in the policies of the Exchange) from time to time during the next 12 months. In accordance with the Policies of the Exchange, the maximum number of common shares that may be purchased under the Bid in any 30-day period may not exceed 2% of the issued and outstanding common shares of the Company when aggregated with all other common shares purchased under the Bid in the preceding 30 days.

The Company is undertaking the Bid because, in the opinion of its board of directors, the market price of its common shares, from time to time, may not fully reflect the underlying value of its operations and future growth prospects. The Company believes that in such circumstances, the purchase of the common shares of the Company may represent an appropriate and desirable use of the Company's funds and further enhance market stability.

The Company may, subject to market conditions, sell one or more of its investment properties to finance purchases under the Bid from time to time.

From March 18, 2021, to March 17, 2022, the Company purchased 2,250,000 of its shares at an average price of $0.76 under its most recently expired NCIB.

The Company has retained M Partners Inc. of Toronto, Ontario as its broker Member for the purposes of conducting the bid. The Bid will commence on or about March 24, 2022, and the Bid will end no later than March 23, 2023. The common shares will be purchased for cancellation on the open market through the facilities of the Exchange, at market price. This transaction is subject to the TSX Venture Exchange approval.