Mkango Announces Exercise of Warrants
Mkango Announces Exercise of Warrants
LONDON and CALGARY, Alberta, Dec. 14, 2017 -- Mkango Resources Ltd. (AIM:MKA) (TSX-V:MKA) (the "Company" or
"Mkango") announces that following the exercise of warrants over 151,515 common shares without par value in the share
capital of the Company (“New Shares”), it has received an aggregate cash consideration of £10,000 and is today issuing the
equivalent number of New Shares. The warrants are being exercised at 6.6 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 18 December 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 102,879,224 shares. The Company does not
hold any shares in treasury. Shareholders may 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 three exclusive
prospecting licenses in Malawi, the Phalombe licence, the Thambani licence and the Chimimbe Hill licence.
The main exploration target in the Phalombe licence is the Songwe Hill rare earths' deposit, 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, a wholly owned subsidiary of Noble Group Limited,
whereby, subject to regulatory approval, Talaxis will fully fund a feasibility study for Songwe by investing £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.
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. This includes the collaboration
with Metalysis Ltd announced in September 2017, which 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.
Talaxis and Mkango have also agreed to cooperate as preferred partners on rare earths projects worldwide and on other
projects in Malawi.
The main exploration targets of Mkango's remaining two licences are, in the Thambani licence, uranium, niobium, tantalum
and zircon and, in the Chimimbe Hill licence, nickel and cobalt.
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, 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 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
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.