Mkango Closes Private Placement
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MKANGO RESOURCES LTD.
550 Burrard Street
Suite 2900
Vancouver
BC V6C 0A3
Canada
MKANGO CLOSES PRIVATE PLACEMENT
London / Vancouver: 13 March 2025 – Mkango Resources Ltd. (AIM/TSX-V: MKA) (the “Company” or “Mkango”)
announces that, further to the Company’s announcement on 28 February 2025 , it has closed its private
placement through the issuance of 577,271 common shares of the Company (the “Placement Shares”) at a price
per Placement Share of 11 pence (“p”) (approximately C$0. 205, using the Bank of Canada exchange rate as of
closing on 12 March 2025 of £1:C$1.8649 (The “Private Placement”) to management.
Of the total, 236,363 shares have been issued to William Dawes, 236,363 shares to Alexander Lemon and 104,545
shares to Robert Sewell, structured for tax and regulatory reasons as a cash bonus and private placement of the
after-tax amounts of the bonus. The value of the after-tax bonus invested in the shares of the Company is £26,000
(C$48,487) for William Dawes and Alexander Lemon, and £11,500 (C$21,446) for Robert Sewell.
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
326,843,532 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.
The Placement Shares have been admitted to trading on AIM on 12 March 2025 and will also be listed for trading
on the TSX-V and will be subject to a statutory hold period in Canada expiring on 13 July 2025.
About Mkango
Mkango is listed on the AIM and the TSX -V. 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, 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 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 rolling out HyProMag’s recycling technology into the United States via the 50/50
owned HyProMag USA LLC joint venture company.
Mkango also owns the advanced stage Songwe Hill rare earths project and an extensive rare earths, uranium,
tantalum, niobium, rutile, nickel and cobalt exploration portfolio in Malawi, and the Pulawy rare earths
separation project in Poland.
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Songwe Hill is one of the few rare earths projects to have progressed to the Definitive Feasibility Stage, with an
expected life of mine of 18 years, producing a 55% mixed rare earth carbonate, yielding 1,953 tons per annum
of NdPr and 56 tons per annum of DyTb.
Mkango’s proposed Pulawy separation facility site, located in a Special Economic Zone in Poland, stands adjacent
to the EU’s second largest manufacturer of nitrogen fertilisers, and features established infrastructure, access to
reagents and utilities on site.
Mkango has signed a letter of Intent with Crown PropTech Acquisitions to list Mkango's Songwe Hill and Pulawy
Rare Earths Projects on NASDAQ via a SPAC Merger.
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. Generally, forward looking statements can be identified by the use of
words such as “targeted”, “plans”, “expec ts” 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 occ ur, 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 li miting the
foregoing, receipt of TSX-V approval for the Subscription, the availability of (or delays in obtaining) financing to
develop Songwe Hill, and the various recycling plants in the UK, Germany and the US as well as the separation
plant in Poland, governmental action and other market effects on global demand and pricing for the metals and
associated downstream products for which Mkango is exploring, researching and developing, geological,
technical and regulatory matters relating to the development o f Songwe Hill, the ability to scale the 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, avai lability of scrap
supplies for 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 various recycling and
separation plants of Mka ngo and Maginito and future investments in the United States pursuant to the
cooperation agreement between Maginito and CoTec, the outcome and timing of the completion of the
feasibility studies, cost overruns, complexities in building and operating the pl ants, and the positive results of
feasibility studies on the various proposed aspects of Mkango’s, Maginito’s and CoTec’s activities. 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 assume 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 Compan y 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
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[email protected] [email protected]
Canada: +1 403 444 5979
www.mkango.com
@MkangoResources
SP Angel Corporate Finance LLP
Nominated Adviser and Joint Broker
Jeff Keating, Jen Clarke, Devik Mehta
UK: +44 20 3470 0470
Alternative Resource Capital
Joint Broker
Alex Wood, Keith Dowsing
UK: +44 20 7186 9004/5
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.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:
1 Details of the person discharging managerial responsibilities / person closely associated
a) Name 1) William Dawes
2) Alexander Lemon
3) Robert Sewell
2 Reason for the notification
a)
Position/status 1) Chief Executive Officer
2) President and Co-Founder
3) Chief Financial Officer
b) Initial
notification
/Amendment
Initial Notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
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a) Name Mkango Resources Ltd
b) LEI 213800RPILRWRUYNTS85
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each
type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
a)
Description of
the financial
instrument,
type of
instrument
Common shares of nil par value each
Identification
code
ISIN: CA60686A4090
b) Nature of the
transaction
Issue of Common Shares in connection with a Private Placement
c)
Price(s) and
volume(s)
Price(s) Volume(s)
1) 11p
2) 11p
3) 11p
236,363
236,363
104,545
d)
Aggregated
information
- Aggregated
volume
- Price
Price(s) Volume(s)
1-3) 11p 577,271
e) Date of the
transaction
28 February 2025
f) Place of the
transaction
Outside a trading venue