Exercise of Warrants
MKANGO RESOURCES LTD.
550 Burrard Street
Suite 2900
Vancouver
BC V6C 0A3
Canada
EXERCISE OF WARRANTS
LONDON / VANCOUVER: 22 July 2026 – Mkango Resources Ltd. (AIM/TSX -V: MKA) (“Mkango” or
“Company”) announces that it has received an exercise notice from a Mkango warrant holder to
exercise 550,000 warrants over common shares in the Company, at a price of seven (7) pence per
common share. Accordingly, the Company will issue 550,000 common shares ("Warrant Shares") to
satisfy this exercise.
The Warrant Shares will rank pari passu with the Company's existing shares and application has been
made for the Warrant Shares to be admitted to trading on AIM ("Admission"). It is expected that
Admission will become effective and dealings in the Warrant Shares will commence at 8:00 am on or
around 27 July 2026. The Warrant Shares will also be listed for trading on the TSX-V.
In accordance with the Disclosure Guidance and Transparency Rules (DTR 5.6.1R) the Company hereby
notifies the market that immediately following Admission, its issued and outstanding share capital will
consist of 387,803,618 shares. The Company does not hold any shares in treasury. Shareholders may
use this figure as the denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the Company under the Financial
Conduct Authority's Disclosure and Transparency Rules.
About Mkango Resources Ltd.
Mkango is listed on the AIM and the TSX-V Stock Exchanges. Mkango’s corporate strategy is to become
a market leader in the production of recycled rare earth magnets, alloys and oxides, through its
interest in Maginito Limited (“Maginito”), which is owned 79.4 per cent by Mkango and 20.6 per cent
by CoTec Holdings Ltd (“CoTec”), and to develop new sustainable sources of neodymium,
praseodymium, dysprosium and terbium to supply accelerating demand from electric vehicles, wind
turbines and other clean energy technologies.
Maginito holds a 100 per cent interest in HyProMag Limited and a 90 per cent direct and indirect
interest (assuming conversion of Maginito’s convertible loan) in HyProMag GmbH, focused on short
loop rare earth magnet recycling in the UK and Germany, respectively, and a 100 per cent interest in
Mkango Rare Earths UK Ltd (“Mkango UK”), focused on long loop rare earth magnet recycling in the
UK via a chemical route.
Maginito and CoTec are also expanding HPMS recycling technology into the United States via the
50/50 owned HyProMag USA joint venture company.
Mkango currently owns 100% of the advanced stage Songwe Hill rare earths project in Malawi and the
proposed Puławy rare earths separation plant in Poland. Both the Songwe and Puławy projects have
been selected as Strategic Projects under the European Union Critical Raw Materials Act. Songwe has
also received Development Funding from the U.S. International Development Finance Corporation
(DFC), the U.S. Government’s development finance institution, securing US$4.6 million in
reimbursable funding for Front End Engineering and Design. Mkango signed a Business Combination
Agreement with Crown PropTech Acquisitions to list the Songwe Hill and Puławy rare earths projects
on NASDAQ via a SPAC merger under the name Mkango Rare Earths Limited (the “Proposed Business
Combination”).
For more information, please visit www.mkango.ca.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has
been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication
of this announcement via Regulatory Information Service, this inside information is now considered
to be in the public domain.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward -looking statements (within the meaning of that term under
applicable securities laws) with respect to Mkango. Generally, forward -looking statements can be
identified by the use of words such as “plans”, “expects” or “is expected to”, “scheduled”, “estimates”,
“intends”, “anticipates”, “believes”, or variations of such words and phrases, or statements that
certain actions, events or results “can”, “may”, “could”, “would”, “should”, “might” or “will”, occur or
be achieved, or the negative connotations thereof.
Forward-looking statements in this news release include, without limitation, statements regarding the
expected timing and effectiveness of Admission and the commencement of dealings in the Warrant
Shares on AIM; the listing of the Warrant Shares on the TSX -V; and the statements under “About
Mkango Resources Ltd.” concerning the Proposed Business Combination, the development of Songwe
Hill and Puławy, the expansion of rare earth magnet recycling operations in the United Kingdom,
Germany and the United States , the Development Funding awarded by the DFC, and the status of
Songwe Hill and Puławy as Strategic Projects under the European Union Critical Raw Materials Act.
Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no
assurance that the plans, intentions or expectations upon which they are based will occur. By their
nature, forward-looking statements involve numerous assu mptions, known and unknown risks and
uncertainties, both general and specific, that contribute to the possibility that the predictions,
forecasts, projections and other forward -looking statements will not occur, which may cause actual
performance and resul ts in future periods to differ materially from any estimates or projections of
future performance or results expressed or implied by such forward-looking statements.
In relation to the Proposed Business Combination, such factors and risks include, without limitation:
the ability of the parties to complete the Proposed Business Combination on the terms currently
contemplated, within the timeframe contemplated, or at all ; the satisfaction or waiver of the
conditions precedent to closing, including the receipt of required shareholder, regulatory, stock
exchange, court and other third party approvals; the effectiveness of any registration statement filed
with the United States Securities and Exchange Commission in connection with the Proposed Business
Combination; the approval for listing of the securities of Mkango Rare Earths Limited on NASDAQ; the
level of redemptions by shareholders of Crown PropTech Acquisitions and the amount of cash
available to the combined company on closing; the ability to obtain any additional financing required
in connection with the Proposed Business Combination; the outside date under the Business
Combination Agreement and the ability to obtain any extension th ereof; the exercise of any
termination rights under the Business Combination Agreement; the costs, expenses and diversion of
management attention associated with the Proposed Business Combination; any litigation, regulatory
proceedings or shareholder actio ns arising in connection with the Proposed Business Combination;
the consequences of the Proposed Business Combination for Mkango’s interests in Songwe Hill and
Puławy and for Mkango’s status on AIM and the TSX Venture Exchange, including the application o f
Rule 14 of the AIM Rules for Companies; and the anticipated benefits of the Proposed Business
Combination not being realised in whole or in part.
Other factors and risks include, without limiting the foregoing: the availability of (or delays in
obtaining) financing to develop Songwe Hill and the recycling plants being developed by Maginito in
the United Kingdom, Germany and the United States; the drawdown and continued availability of the
reimbursable Development Funding awarded by the U.S. International Development Finance
Corporation, including the satisfaction of applicable conditions and changes in United States
government policy or funding priorities; the retention of Strategic Project status for Songwe Hill and
Puławy under the European Union Critical Raw Materials Act and the realisation of the anticipated
benefits of that status; the conversion of Maginito’s convertible loan in HyProMag GmbH a nd the
resulting ownership interest; governmental action and other market effects on global demand and
pricing for the metals and associated downstream products which Mkango is exploring for,
researching and developing; geological, technical and regulatory matters relating to the development
of Songwe Hill and Puławy; political, fiscal, legal, permitting, taxation, currency and other risks
associated with operating in Malawi, Poland, Germany, the United Kingdom and the United States;
the ability to scale th e HPMS and chemical recycling technologies to commercial scale; competitors
having greater financial capability and effective competing technologies in the recycling and
separation business of Maginito and Mkango; the availability of scrap supplies for Maginito’s recycling
activities; government regulation (including the impact of environmental and other regulations) on,
and the economics in relation to, recycling and the development of the Maginito recycling plants and
Puławy; future investments in the United States pursuant to the HyProMag USA joint venture between
Maginito and CoTec; cost overruns; complexities in building and operating the plants; and the results
of feasibility studies on the various proposed aspects of Mkango’s and Maginito’s activities being less
favourable than anticipated.
In relation to Admission, such factors and risks include the satisfaction of the requirements of the
London Stock Exchange for the admission of the Warrant Shares to trading on AIM and the acceptance
of the TSX Venture Exchange in respect of the listing of the Warrant Shares, and accordingly the
expected date of Admission is subject to change.
The forward-looking statements contained in this news release are made as of the date of this news
release. Except as required by applicable law, the Company disclaims any intention and assumes no
obligation to update or revise any forward -looking statemen ts, whether as a result of new
information, future events or otherwise. Additionally, the Company undertakes no obligation to
comment on the expectations of, or statements made by, third parties in respect of the matters
discussed above.
For further information on Mkango, please contact:
Mkango Resources Limited
William Dawes
Chief Executive Officer
Alexander Lemon
President
Canada: +1 403 444 5979
www.mkango.ca
@MkangoResources
SP Angel Corporate Finance LLP
Nominated Adviser and Joint Broker
Caroline Rowe, Jen Clarke, Devik Mehta
UK: +44 20 3470 0470
Cavendish Capital Markets Limited
Joint Broker
Neil McDonald, Pearl Kellie
UK: +44 20 7330 0500
H&P Advisory Limited
Joint Broker
Andrew Chubb, Leif Powis
UK: +44 20 7907 8500
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibi lity for the adequacy or accuracy of this
release.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any equity or
other securities of the Company in the United States. The securities of the Company will not be
registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and
may not be offered or sold within the United States to, or for the account or benefit of, U.S. persons
except in certain transactions exempt from the registration requirements of the U.S. Securities Act.