Mkango Grants Stock Options
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MKANGO RESOURCES LTD.
706 27 Avenue NW,
Calgary, Alberta T2M 2J3
MKANGO GRANTS STOCK OPTIONS
Calgary, Alberta: November 1st , 2017 – Mkango Resources Ltd (AIM / TSX -V:MKA) (the “Company”
or “Mkango”), announces that, subject to regulator y approval, Mkango has gra nted 2,840,000 stock
options (“Options”) to directors, officers, employees and consultants of the Company.
The Options have an exercise price of $0.07 CDN per common share, will vest over the next two years
and are valid for a period of 10 years from the date of grant.
The O ptions granted to the following directors are in accordance with the Company’s stock O ption
plan pre-approved by shareholders.
Name of Director Proposed New Options Total Options held
Derek Linfield
Non-Executive Chairman
680,000 1,730,000
Alexander Lemon
President
705,000 2,455,000
William Dawes
CEO
705,000 2,455,000
Adrian Reynolds
Non Executive Director
180,000 810,000
David Berg
Non Executive Director
180,000 810,000
Eugene Chen
Non Executive Director
180,000 810,000
The Company also announces that Jub Capital Limited is to be issued with 666,666 common shares in
satisfaction of a corporate advisory fee payable on the first anniversary of the Company’s admissi on
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to AIM. Application will be made for the 666,666 new shares to be issued, which will rank pari passu
with the existing common shares, to be admitted to trading on AIM ("Admission"). It is expected that
Admission will become effective and dealings will commence on or around 6 November 2017.
Total Voting Rights
Following the issue of these shares, the issued share capital of the Company will consist of 98,864,853
common shares. No shares were held in treasury at the date of this announcement. The total current
voting rights in the Company are therefore 98,864,853.
The above total current voting rights number is the figure which may be used by shareholders as the
denominator for the calculation by which they will determine if they are required to notify their
interest in, or a change to their interest in the Company.
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 hav e earned it a reputation as “the warm
heart of Africa.” Mkango holds, through its wholly owned subsidiary Lancaster Exploration Limited, a
100% interest in 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, 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.
Mkango’s strategy for Songwe is to further optimise the project with a view to maximising efficiency
and reducing costs, thereby providing a strong platform for entering into partnerships, marketing and
offtake arrangements. In December 2016, Mkango entered into an agreement with Noble Resources
to collaborate in the rare earths sector.
In September 2017, Mkango signed a binding joint venture principles and exclusivity agreement with
Metalysis for advanced alloys using neodymium or praseodymium with other elements for magnet
manufacturing. Following successful Phase I production of a neodymium -iron-boron (“NdFeB”) alloy
powder using Metalysis’ solid-state technology, the Phase II R&D programme has commenced. NdFeB
alloys are used to make permanent magnets, critical components of most electric vehicles, direct
drive wind turbines and many other high growth applications. Neodymium is also a key component of
the Company’s Songwe Hill rare earths project.
The main exploration targets in the Thambani licence are uranium, niobium, tantalum and zircon.
For more information, please visit www.mkango.ca.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIA L
RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
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1. Details of the person discharging managerial responsibilities/person closely
associated
a) Name: Derek Linfield
2. Reason for the notification
a) Position/status: Non-Executive Chairman
b) Initial notification/Amendment: Initial notification
3. Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name: Mkango Resources Limited
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:
Identification code:
Common shares of nil pence each
CA60686A4090
b) Nature of the transaction: Issue of options
c) Price(s) and volume(s):
Price(s) Volume(s)
$0.07 CDN 680,000
d) Aggregated information:
Aggregated volume:
Price:
Single transaction as in 4 c) above
Price(s) Volume(s)
$0.07 CDN 680,000
e) Date of the transaction: 1st November 2017
f) Place of the transaction: Outside a trading venue
1. Details of the person discharging managerial responsibilities/person closely
associated
a) Name: Alexander Lemon
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2. Reason for the notification
a) Position/status: President and Executive Director
b) Initial notification/Amendment: Initial notification
3. Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name: Mkango Resources Limited
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:
Identification code:
Common shares of nil pence each
CA60686A4090
b) Nature of the transaction: Issue of options
c) Price(s) and volume(s):
Price(s) Volume(s)
$0.07 CDN 705,000
d) Aggregated information:
Aggregated volume:
Price:
Single transaction as in 4 c) above
Price(s) Volume(s)
$0.07 CDN 705,000
e) Date of the transaction: 1st November 2017
f) Place of the transaction: Outside a trading venue
1. Details of the person discharging managerial responsibilities/person closely
associated
a) Name: William Dawes
2. Reason for the notification
a) Position/status: Chief Executive Officer
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b) Initial notification/Amendment: Initial notification
3. Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name: Mkango Resources Limited
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:
Identification code:
Common shares of nil pence each
CA60686A4090
b) Nature of the transaction: Issue of options
c) Price(s) and volume(s):
Price(s) Volume(s)
$0.07 CDN 705,000
d) Aggregated information:
Aggregated volume:
Price:
Single transaction as in 4 c) above
Price(s) Volume(s)
$0.07 CDN 705,000
e) Date of the transaction: 1st November 2017
f) Place of the transaction: Outside a trading venue
1. Details of the person discharging managerial responsibilities/person closely
associated
a) Name: Adrian Reynolds
2. Reason for the notification
a) Position/status: Non-Executive Director
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 Limited
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:
Identification code:
Common shares of nil pence each
CA60686A4090
b) Nature of the transaction: Issue of options
c) Price(s) and volume(s):
Price(s) Volume(s)
$0.07 CDN 180,000
d) Aggregated information:
Aggregated volume:
Price:
Single transaction as in 4 c) above
Price(s) Volume(s)
$0.07 CDN 180,000
e) Date of the transaction: 1st November 2017
f) Place of the transaction: Outside a trading venue
1. Details of the person discharging managerial responsibilities/person closely
associated
a) Name: David Berg
2. Reason for the notification
a) Position/status: Non-Executive Director
b) Initial notification/Amendment: Initial notification
3. Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name: Mkango Resources Limited
b) LEI: 213800RPILRWRUYNTS85
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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:
Identification code:
Common shares of nil pence each
CA60686A4090
b) Nature of the transaction: Issue of options
c) Price(s) and volume(s):
Price(s) Volume(s)
$0.07 CDN 180,000
d) Aggregated information:
Aggregated volume:
Price:
Single transaction as in 4 c) above
Price(s) Volume(s)
$0.07 CDN 180,000
e) Date of the transaction: 1st November 2017
f) Place of the transaction: Outside a trading venue
1. Details of the person discharging managerial responsibilities/person closely
associated
a) Name: Eugene Chen
2. Reason for the notification
a) Position/status: Non-Executive Director
b) Initial notification/Amendment: Initial notification
3. Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name: Mkango Resources Limited
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
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a) Description of the financial instrument, type
of instrument:
Identification code:
Common shares of nil pence each
CA60686A4090
b) Nature of the transaction: Issue of options
c) Price(s) and volume(s):
Price(s) Volume(s)
$0.07 CDN 180,000
d) Aggregated information:
Aggregated volume:
Price:
Single transaction as in 4 c) above
Price(s) Volume(s)
$0.07 CDN 180,000
e) Date of the transaction: 1st November 2017
f) Place of the transaction: Outside a trading venue
For further information on Mkango, please contact:
Mkango Resources Limited
William Dawes Alexander Lemon
Chief Executive Officer President
[email protected] [email protected]
UK: +44 207 3722 744
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