Mkango Resources Ltd. has completed a private placement, raising £3 million (approximately C$5.6 million) through the sale of 10,000,000 common shares at 30 pence each (about C$0.56).
The company also issued 5,000,000 warrants, allowing holders to purchase one common share at 45 pence per share until October 2, 2027.
Jub Capital Management LLP received 500,000 broker warrants, exercisable at 30 pence per share for three years. After fees, Mkango expects net proceeds of £2.8 million (around C$5.3 million). The funds will be used to support recycling development in Germany and the UK, as well as general corporate expenses.
Following the admission of the new shares, the company’s total issued and outstanding share capital will be 345,992,907 shares.
For further information on Mkango, please contact:
Mkango Resources Limited
William Dawes Alexander Lemon
Chief Executive Officer President
Canada: +1 403 444 5979
@MkangoResources
