REG - Mkango Resources Ltd - MKANGO GRANTS STOCK OPTIONS

Mkango ResourcesAnnouncement

08/09/2022 07:00

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RNS Number : 6894Y  Mkango Resources Limited  08 September 2022

MKANGO RESOURCES LTD.

550 Burrard Street

Suite 2900

Vancouver

BC V6C 0A3

Canada

 

 

 

MKANGO GRANTS STOCK OPTIONS

London/Vancouver:  September 8, 2022 - Mkango Resources Ltd (AIM / TSX-V:MKA)
(the "Company" or "Mkango") has granted a total of 350,000 stock options over
350,000 common shares of the Company ("Options") to Mr Robert Sewell, Chief
Financial Officer of the Company, in accordance with the Company's existing
Option Plan.

The Options have an exercise price of $0.185 CDN per common share, being the
TSX-V close price of Mkango shares on 7 September 2022, will vest in 4 equal
instalments over the next 2 years, with the first tranche vesting immediately,
and are valid for a period of 10 years from the date of grant.

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), 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..
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

will@mkango.ca
alex@mkango.ca

Canada: +1 403 444 5979

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

@MkangoResources

 

Blytheweigh

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.

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:                                                         Robert Sewell

 2.            Reason for the notification
 a)            Position/status:                                              Chief Financial 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 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:  Common shares of nil pence each

               Identification code:                                          CA60686A4090
 b)            Nature of the transaction:                                    Issue of options
 c)            Price(s) and volume(s):                                       Price                         Volume

                                                                             C$0.185                             350,000
               Aggregated information:                                       Single transactions as in 4 c) above

Price(s)  Volume(s)
               Aggregated volume:                                            C$0.185   350,000

               Price:
 
 e)            Date of the transaction:                                      7(th) September 2022
 f)            Place of the transaction:                                     Outside a trading venue

 

e)

Date of the transaction:

7(th) September 2022

f)

Place of the transaction:

Outside a trading venue

 

 

 

 

 

 

 

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