REG - Mkango Resources Ltd - MKANGO ANNOUNCES RESULTS OF ANNUAL GENERAL MEETING

Mkango ResourcesAnnouncement

05/10/2022 09:31

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RNS Number : 7545B  Mkango Resources Limited  04 October 2022

 

 

 

 

MKANGO RESOURCES LTD.

550 Burrard Street

Suite 2900

Vancouver

BC V6C 0A3

Canada

 

MKANGO ANNOUNCES RESULTS OF ANNUAL GENERAL MEETING

London / Vancouver, October 4, 2022 - Mkango Resources Ltd. (AIM/TSX-V: MKA)
(the "Company" or "Mkango") is pleased to announce that shareholders have
approved all resolutions at the Annual General Meeting (the "Meeting") held in
Toronto today.

 

All business put forth at the Meeting was approved by shareholders of the
Company, including:

 

-      the election of Derek Linfield, William Dawes, Alexander Lemon,
Stephen Motteram, Susan Muir and Shaun Treacy as Directors of the Company;

-      appointment of BDO LLP as auditors of the Company and authorising
the Directors to fix their remuneration; and

-      approval of the Company's amended stock option plan, amended
Enterprise Management Incentive (EMI) plan and amended Restricted Stock Unit
(RSU) plan in accordance with the policies of the TSX Venture Exchange, full
details of which are set out in this circular:
http://www.rns-pdf.londonstockexchange.com/rns/7545B_1-2022-10-4.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/7545B_1-2022-10-4.pdf)

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, 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  the
Pulawy Separation Plant, including the outcome and timing of the completion of
the feasibility studies, cost overruns, complexities in building and operating
the Pulway Separation Plant, changes in economics and government regulation,
the positive results of a feasibility study on the Pulawy Separation Plant
 and delays in obtaining financing or governmental approvals for, and the
impact of environmental and other regulations relating to, Songwe  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 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, Caroline Rowe

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.

 

 

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