Exercise of Warrants
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MKANGO RESOURCES LTD.
706 27 Avenue NW,
Calgary, Alberta T2M 2J3
EXERCISE OF WARRANTS
London / Calgary: November 24, 2017 - Mkango Resources Ltd. (AIM/TSX -V: MKA) (the " Company" or
"Mkango") announces that following the exercise of warrants over 3,862,856 common shares without par
value in the share capital of the Company (“New Shares”), it has received an aggregate cash consideration of
£241,995 and is today issuing the equivalent number o f New Shares. The warrants being exercised comprise
3,445,000 warrants at 6.6 pence each and 417,856 warrants at 3.5 pence each.
The New Shares will rank pari passu with the existing shares and application has been made for the New Shares
to be admitted to trading on AIM (“Admission”). It is expected that Admission will become effective and
dealings in the New Shares will commence at 8:00a.m. on 28 November 2017. The New Shares will also trade
on the Toronto Venture Exchange.
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 share capital will consist of 102,727,709
shares. The Company does not hold any shares in treasury. Shareholders m ay use these figures 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 FCA's Disclosure and Transparency Rules.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the
purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
About Mkango Resources Limited
Mkango's primary business is the exploration for rare earth elements and associated minerals in the
Republic of Malawi, a country whose hospitable people have earned it a reputation as “the warm heart of
Africa”. The Company holds two exclusive prospecting licenses in southern Malawi, the Phalombe licence and
the Thambani licence.
The main exploration target in the Phalombe licence is the Songwe Hill rare earths’ deposit (“Songwe”), which
features carbonatite hosted rare earth mineralisation and was subject to previous exploration in the late
1980s. Mkango completed an updated Pre-feasibility Study for the project in November 2015.
In November 2017, Mkango entered into an agreement with Talaxis Limited (“Talaxis”) , a wholly owned
subsidiary of Noble Group Limited, whereby Talaxis will fully fund a bankable feasibility study for Songwe
totaling £12 million (C$20 million) for a 49% interest in the project. Talaxis will also have the option to acquire a
further 26% interest in the project by arranging funding for project development.
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In addition, by investing a further £2 million (C$3.3 million), Talaxis may acquire a 49% interest in a new
venture to be established by Mkango focused on neodymium alloy powders, magnet and other technologies,
including the collaboration with Metalysis announced in September 2017. The latter is focused on advanced
alloys using neodymium or praseodymium with other elements for permanent magnet manufacturing.
Permanent magnets are critical materials for most electric vehicles, direct drive wind turbines and many other
high growth applications. Neodymium is a key rare earth component at Songwe.
The main exploration targets in the Thambani licence are uranium, niobium, tantalum and zircon.
For more information, please visit www.mkango.ca.
Cautionary Note Regarding Forward-Looking Statements
This news release may contain forward-looking statements. 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 assumptions,
known and unknown risks and uncertainties, b oth 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 results in future periods to differ materially from any estimates or projections of future
performance or results expressed or implied by such forward -looking statements. Such factors and risks
include, without limiting the foregoing, delays in obtaining financing or governmental or stock exchange
approvals. The forward-looking statements contained in this press release are made as of the date of this press
release. Except as required by law, the Company disclaims any intention and assumes no obligation to update
or revise any forward-looking statements, whether as a result of new information, future events or otherwise,
except as required by applicable law. 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 Alexander Lemon
Chief Executive Officer President
[email protected] [email protected]
Canada: +1 403 444 5979
www.mkango.ca
@MkangoResources
Blytheweigh
Financial Public Relations
Tim Blythe, Camilla Horsfall, Nick Elwes
UK: +44 207 138 3204
SP Angel Corporate Finance LLP
Nominated Adviser and Broker
Jeff Keating, Caroline Rowe
UK: +44 20 3470 0470
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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 responsibility 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.