Canada Canada Mkango and Cotec Provide Transaction Update
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MKANGO RESOURCES LTD. COTEC HOLDINGS CORP.
550 Burrard Street 755 Burrard Street
Suite 2900 Suite 428
Vancouver Vancouver
BC V6C 0A3 V6Z 1X6
Canada Canada
MKANGO AND COTEC PROVIDE TRANSACTION UPDATE
London, U.K. and Vancouver, CANADA ‐ June 21, 2022 – Mkango Resources Ltd. (AIM/TSX‐V: MKA) (the
“Company” or “Mkango”) and CoTec Holdings Corp. (TSX‐V: CTH) (“CoTec”) are pleased to announce that, further
to the announcement on May 30th, 2022, binding legal documentation for the £500,000 (C$793,651) unsecured
convertible advance note (the “Advance”) has now been completed. Under the terms of the Advance, CoTec will
transfer £500,000 to Mkango within 7 business days of conditional TSXV approval, which is pending, such transfer
to be no later than 30th June 2022.
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, this inside information is now considered to be in the public
domain.
About CoTec Holdings Corp.
CoTec is an ESG‐focused company investing in innovative technologies that have the potential to fundamentally
change the way metals and minerals can be extracted and processed. The Company is committed to supporting
the transition to a lower carbon future for the extraction industry, a sector on the cusp of a green revolution as
it embraces technology and innovation.
CoTec is a publicly traded mining issuer listed on the Toronto Venture Stock Exchange and trades under the
symbol CTH.For more information, please visit www.cotec.ca .
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 nearing completion. 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 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
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towards development of a rare earth Separation Plant at Pulawy in Poland (the “Pulawy Separation Plant”). The
Pulawy Separation Plant will process the purified mixed rare earth carbonate produced at Songwe Hill.
Through its ownership of 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 42% 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 exploration 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, HyProMag, Mkango UK, the Pulawy Separation Plant, the
Tyseley Recycling Facilities, the Mkango UK Pilot Plant and Songwe and the Transactions as well as with respect
to CoTec. 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, completion of the Transactions, 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 Mkango UK Pilot Plant, the Pulawy 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 the Pulawy
Separation Plant and Songwe and delays in obtaining financing or governmental approvals for, and the impact
of environmental and other regulations relating to, Songwe, the Mkango UK Pilot Plant and the Pulawy
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 and CoTec disclaim 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 Company and CoTec undertake 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
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BlytheRay
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
For further information on CoTec, please contract:
CoTec Holdings Corp.
Braam Jonker
Chief Financial Officer
Canada: +1 604 992‐5600
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.