REG - Mkango Resources Ltd - MKANGO ANNOUNCES DIRECTOR DEALING

Mkango ResourcesAnnouncement

14/02/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230214:nRSN7843Pa&default-theme=true

RNS Number : 7843P  Mkango Resources Limited  14 February 2023

 

 

 

 

MKANGO RESOURCES LTD.

550 Burrard Street

Suite 2900

Vancouver

BC V6C 0A3

Canada

 

MKANGO ANNOUNCES DIRECTOR DEALING

 

London / Vancouver: February 14, 2023 - Mkango Resources Ltd. (AIM/TSX-V: MKA)
("Company" or "Mkango") has been informed that William Dawes, CEO of the
Company, has purchased 800,000 common shares without par value ("Shares") in
the Company, comprising 400,000 Shares at a price of 12.95p per share and
400,000 Shares at a price of 12.75p per share.

Following the purchase of the Shares, William Dawes is the beneficial owner of
or directly or indirectly controls a total of 9,521,443 Shares in the Company,
which represents 4.42% per cent. of the issued share capital and total voting
rights of the Company. William Dawes holds 975,238 Shares in his own name,
with 8,546,205 of the Shares controlled through Leo Mining & Exploration
Limited, a company in which William Dawes is a Director and owns 17.3% of the
issued and outstanding shares.

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 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 completed
in July 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 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 "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 (http://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 (http://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 (http://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
"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, ,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 Pulawy Separation Plant, the
production facilities in Baden-Württemberg State and Tyseley Energy Park (the
"Plants"), including the outcome and timing of the completion of the
feasibility studies, cost overruns, complexities in building and operating the
Plants, changes in economics and government regulation, the positive results
of feasibility studies and delays in obtaining financing or governmental
approvals for, and the impact of environmental and other regulations relating
to, Songwe and the Plants. 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 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

will@mkango.ca                             alex@mkango.ca

Canada: +1 403 444 5979

www.mkango.ca (http://www.mkango.ca)

@MkangoResources

 

BlytheRay

Financial Public Relations

Tim Blythe

UK: +44 207 138 3204

 

SP Angel Corporate Finance LLP

Nominated Adviser and Joint Broker

Jeff Keating, Kasia Brzozowska

UK: +44 20 3470 0470

 

Alternative Resource Capital

Joint Broker

Alex Wood, Keith Dowsing

UK: +44 20 7186 9004/5

 

Bacchus Capital Advisers

Financial Adviser

Richard Allan

UK: +44 203 848 1642

UK: +44 7857 857 287

richard.allan@bacchuscapital.co.uk

 

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

   .      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
 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 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 without par value

          Identification code:

                                                                        CA60686A4090

 b)       Nature of the transaction:                                    Purchase of shares
 c)       Price(s) and volume(s):

Price(s)  Volume(s)
                                                                        12.95p    400,000
                                                                        12.75p    400,000

 
 d)       Aggregated information:                                       Single transaction as in 4 c) above

Price(s)       Volume(s)
          Aggregated volume:                                            12.95p/12.75p  800,000

          Price:

 
 e)       Date of the transaction:                                      13 February 2023
 f)       Place of the transaction:                                     AIM

 

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

 Price(s)       Volume(s)
 12.95p/12.75p  800,000

 

e)

Date of the transaction:

13 February 2023

f)

Place of the transaction:

AIM

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHSFSFADEDSESE