Mkango Closes pounds sterling3M (C$5.6M) Private Placement

Executive Summary

• Mkango Resources closed a private placement raising gross proceeds of £3,000,000 (≈ C$5.6 M) via issuance of 10 M common shares at £0.30 each.
• The transaction also included 5 M subscriber warrants (exercise price £0.45) and 500 k broker warrants to Jub Capital (exercise price £0.30).
• Net proceeds of £2.8 M (≈ C$5.3 M) will fund recycling development projects in Germany and the UK and cover corporate costs; placement remains subject to TSX‑V final acceptance.

Key Details

• Subscription Shares: 10,000,000 common shares issued at £0.30 per share (≈ C$0.56).
• Gross proceeds: £3,000,000 (≈ C$5.6 M).
• Statutory hold period: Canada – expires 3 Feb 2026 for Subscription Shares and underlying shares of warrants.
• Subscriber Warrants: 5,000,000 warrants (½ warrant per share); each whole warrant allows purchase of one common share at £0.45 for two years post‑closing (until 2 Oct 2027).
• Broker Warrants to Jub Capital: 500,000 warrants; exercisable for three years at £0.30 per warrant.
• Net proceeds after fees: £2,800,000 (≈ C$5.3 M).
• Use of proceeds: Fund ongoing recycling development costs in Germany and the UK; support corporate expenses.
• Admission to trading: Subscription Shares admitted to AIM; will also list on TSX‑V with a hold period expiring 6 Feb 2026.
• Post‑placement share count: 345,992,907 total issued & outstanding shares (no treasury shares).
• Regulatory notes: Placement subject to final acceptance by the TSX Venture Exchange; inside information disclosed per MAR regulations.

Notable Quotes

(No direct quotes were included in the release.)