Mkango Announces Results of Annual General Meeting
Mkango Announces Results of Annual General Meeting
LONDON and VANCOUVER, British Columbia, Oct. 06, 2021 (GLOBE NEWSWIRE) -- Mkango Resources Ltd. (AIM/TSX-V:
MKA) (the " Company" or " Mkango") is pleased to announce that shareholders have approved all resolutions at the Annual
General Meeting (the “Meeting ”) held in Toronto today.
All business put forth at the Meeting was approved by shareholders of the Company, including:
• approval of the previously announced acquisition on 5 August 2021 by Mkango of Talaxis’ 49% interest in Lancaster
Exploration Limited, which owns the Songwe Hill Rare Earths Project in Malawi, and Talaxis’ 24.5% interest in Maginito
Limited (“Maginito”), which holds a 25% interest in rare earth magnet recycler HyProMag Limited (“HyProMag”), for
54,166,666 common shares in Mkango (the “Acquisition”);
• approval of the investments by and issuance of 2,916,666 shares to Mr. Derek Linfield, Director of the Company, and
1,666,666 shares to Resource Early Stage Opportunities Company (“RESOC”) pursuant to the previously announced
placing on 5 August 2021 (together, the “Subscription Shares”);
• the re-election of Derek Linfield, William Dawes, Alexander Lemon, Susan Muir and Shaun Treacy as Directors of the
Company;
• the election of Stephen Motteram as a Director of the Company (subject to closing of the Acquisition and to completion
of a normal due diligence exercise by the Company's nominated adviser);
• appointment of BDO LLP as auditors of the Company and authorising the Directors to fix their remuneration; and
• approval of the Company’s amended stock option plan, the Enterprise Management Incentive (EMI) plan and the
Restricted Stock Unit (RSU) plan in accordance with the policies of the TSX Venture Exchange, full details of which are
set out in this circular: Mkango Final 2021 Notice_Circular (002).pdf
Completion of the Acquisition and the issuances of the Subscription Shares to Mr. Derek Linfield and RESOC are expected to
occur prior to the end of October 2021. A further announcement will be made as appropriate.
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 ('RIS'), this inside
information is now considered to be in the public domain.
About Mkango Resources Limited
Mkango's corporate strategy is to develop new sustainable primary and secondary sources of neodymium, praseodymium,
dysprosium and terbium to supply accelerating demand from electric vehicles, wind turbines and other clean technologies.
This integrated Mine, Refine, Recycle strategy differentiates Mkango from its peers, uniquely positioning the Company in the
rare earths sector.
Mkango is developing Songwe Hill in Malawi with a Feasibility Study targeted for completion in Q1 2022. Malawi is known as
"The Warm Heart of Africa", a stable democracy with existing road, rail and power infrastructure, and new infrastructure
developments underway.
In parallel, Mkango recently announced that Mkango and Grupa Azoty PULAWY, Poland's leading chemical company and the
second largest manufacturer of nitrogen and compound fertilizers in the European Union, have agreed to work together towards
development of a rare earth Separation Plant at Pulawy in Poland. The Separation Plant will process the purified mixed rare
earth carbonate produced at Songwe.
Through its subsidiary Maginito ( www.maginito.com), Mkango is also developing green technology opportunities in the rare
earths supply chain, encompassing neodymium (NdFeB) magnet recycling as well as innovative rare earth alloy, magnet, and
separation technologies. Maginito holds a 25% interest in UK rare earth (NdFeB) magnet recycler, HyProMag
(www.hypromag.com) with an option to increase its interest to 49%.
Mkango also has an extensive exploration portfolio in Malawi, including the Mchinji rutile project, the Thambani uranium-
tantalum-niobium-zircon project and Chimimbe nickel-cobalt project.
For more information, please visit www.mkango.ca
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, its business, completion of the Acquisition, HyProMag, the Separation Plant and Songwe. 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. 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, regulatory approval for the Acquisition, technical and commercial risks in scaling up HyProMag’s business to
commercial production, governmental action relating to COVID-19, COVID-19 and other market effects on global demand and
pricing for the metals and associated downstream products for which Mkango is exploring, researching and developing, factors
relating the development of the Separation Plant, including the outcome and timing of the completion of the feasibility studies,
cost overruns, complexities in building and operating the Separation Plant, changes in economics and government regulation,
the positive results of a feasibility study on Songwe Hill and delays in obtaining financing or governmental approvals for, and
the impact of environmental and other regulations relating to, Songwe Hill and the Separation Plant. The forward-looking
statements contained in this news release are made as of the date of this news 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
UK: +44 207 138 3204
SP Angel Corporate Finance LLP
Nominated Adviser and Joint Broker
Jeff Keating, Caroline Rowe
UK: +44 20 3470 0470
Alternative Resource Capital
Joint Broker
Alex Wood, Keith Dowsing
UK: +44 20 7186 9004/5
Bacchus Capital Advisers
Strategic and Financial Adviser
Richard Allan, Andrew Krelle
UK: +44 20 3848 1642 / +44 79 5636
2903
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.