Dec 24 (Reuters) - SouthGobi Resources Ltd SGQ.TO :
* ANNOUNCES UPDATE ON STATUS OF CIC CONVERTIBLE DEBENTURE
* UNDER TERMS, CIC MAY PROVIDE NOTICE TO CO AND DECLARE ALL PRINCIPAL, INTEREST AND OTHER AMOUNTS IMMEDIATELY DUE AND PAYABLE
* CIC MAY PROVIDE NOTICE TO CO & TAKE STEPS TO ENFORCE PAYMENT THEREOF, WHICH MAY EFFECT ADVERSELY ON CO'S BUSINESS, OPERATIONS
* AS OF DEC 24, CO HAS NOT RECEIVED NOTICE FROM CIC TO DEMAND PAYMENTS NOR DECLARE OUTSTANDING BALANCES IMMEDIATELY DUE & PAYABLE
* CO, CIC ARE HAVING ACTIVE, CLOSE DISCUSSION ON ISSUES ABOUT CONVERTIBLE DEBENTURE, DEFERRAL AGREEMENT EXECUTED ON JUNE 12, 2017