REG - Mkango Resources Ltd - SHARE OPTION AWARD

Mkango ResourcesAnnouncement

09/06/2025 10:45

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RNS Number : 0110M  Mkango Resources Limited  09 June 2025

 

 

 

 

MKANGO RESOURCES LTD.

550 Burrard Street

Suite 2900

Vancouver

BC V6C 0A3

Canada

 

SHARE OPTION AWARD

 

London / Vancouver: 9 June 2025 - Mkango Resources Ltd (AIM / TSX-V:MKA) (the
"Company" or "Mkango"), announces that, subject to regulatory approval, Mkango
has granted 1,104,933 stock options over 1,104,933 common shares of the
Company ("Options") to Derek Linfield, Chairman of the Company, in accordance
with the Company's existing Option Plan.

Each Option is exercisable for one common share of Mkango ("Mkango Shares"),
with an exercise price of $0.315 CAD  (approximately 17.0p using an exchange
rate of 1.85 CAD:GBP) per common share, being the closing price of the Mkango
Shares on the TSX-V on 6 June 2025. The Options will vest over the next 18
months and are valid for a period of ten years from the date of the grant.

These Options are being granted to Mr Linfield as he is now eligible to
receive options following the forfeiture of 1,250,000 options on 10 May 2024,
which were reallocated to management of the Company in the form of restricted
share units as part of the management's agreement to receive a portion of
their salary in shares. That forfeiture was in accordance with Toronto Venture
Exchange policy, which stipulates a 12-month cooling-off period after
forfeiture before new options may be granted. This grant reflects Mr
Linfield's ongoing contribution as Chairman. The award has been reviewed and
approved by the Company's Remuneration Committee.

Following the issue of Options and referred to above, the total number of
common shares issuable pursuant to the Company's securities-based compensation
plans is 32,705,290, representing 10 per cent of the Company's total issued
share capital.

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 Holdings
Corp ("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 Limited ("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 ("Songwe
Hill") in Malawi and the Pulawy rare earths separation project in Poland (the
Pulawy Project").

Both Songwe Hill and the Pulawy Project have been designated as a Strategic
Projects by the European Commission under the Critical Raw Materials Act
("CRMA").

Mkango has signed a letter of Intent with Crown PropTech Acquisitions to list
Songwe Hill and the Pulawy Rare Earths Projects on NASDAQ via a SPAC Merger.

For more information, please visit www.mkango.ca (about%3Ablank)

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.

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 and its
various projects. Generally, forward looking statements can be identified by
the use of words such as "targeted", "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, 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 Pulawy Project, 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 of Songwe Hill, the various recycling plants in the UK, Germany
and the US as well as the Pulawy Project, 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, availability 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 Mkango 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 plants, and the positive
results of feasibility studies on the various proposed aspects of Mkango's and
Maginito'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 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.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                                                         Derek Linfield
 2    Reason for the notification
 a)   Position/status                                              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 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  Proposed New Options

      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)

                                                                                   CAD 0.315  1,104,933

 d)   Aggregated information

Price(s)   Volume(s)
      - Aggregated volume                                          CAD 0.315  1,104,933

      - Price

 e)   Date of the transaction                                      9 June 2025
 f)   Place of the transaction                                     Outside a trading venue

d)

 

Aggregated information

- Aggregated volume

- Price

 

 

 Price(s)   Volume(s)
 CAD 0.315  1,104,933

e)

Date of the transaction

9 June 2025

f)

Place of the transaction

Outside a trading venue

 

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