Mkango Announces Director Dealing
December 05 2018 - 2:00AM
Mkango Resources Ltd. (AIM / TSXV: MKA) (the "Company" or
"Mkango"), the rare earths exploration and development company
focused on Malawi, has been informed that Derek Linfield, chairman
of the Company, has purchased warrants over 3,333,333 common shares
without par value in the share capital of the Company. Mr Linfield
acquired the warrants, which have an exercise price of 6.6 pence
per warrant, at a price of 2.4 pence per warrant (implying a value
of 9p on the underlying share).
Derek Linfield has purchased these warrants from
Mr. Christopher Williams who has, at the same time, sold the
balance of his holding of 3,971,970 warrants to existing common
share holders in the Company also at a price of 2.4 pence per
warrant.
Following the transaction, Christopher Williams
will not have any beneficial interest in the common shares of the
Company or hold any warrants in the Company.
About Mkango Resources
Limited
Mkango's primary business is exploration for
rare earth elements and associated minerals in the Republic of
Malawi, a country whose hospitable people have earned it a
reputation as “the warm heart of Africa”. The Company holds
interests in three exclusive prospecting licenses in Malawi: the
Phalombe licence, the Thambani licence and the Chimimbe Hill
licence.
For more information, please visit
www.mkango.ca.
Market Abuse Regulation (MAR)
Disclosure
Certain information contained in this
announcement may have been deemed inside information for the
purposes of Article 7 of Regulation (EU) No 596/2014 until the
release of this announcement.
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, its business and the
Project. Generally, forward looking statements can be identified by
the use of words such as “plans”, “expects” or “is expected”,
“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. Forward looking statements in this news
release include statements with respect to the global market for
products using the rare earth metals the Company is exploring for,
completion of the feasibility study and of the transactions
contemplated in the agreement with Talaxis, as well as the use of
proceeds from the investments into the Company by Talaxis and the
timing of such expenditures. 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,
market demand for the metals and associated downstream products for
which Mkango is exploring, researching and developing, the positive
results of a feasibility study on the Project, delays in obtaining
financing or governmental or stock exchange approvals. 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 assumes 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 |
UK:
+44 207 3722 744 |
|
alex@mkango.ca |
Canada: +1 403 444 5979 |
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|
www.mkango.ca |
|
|
@MkangoResources |
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|
|
|
Blytheweigh |
|
|
Financial Public
Relations |
|
|
Tim Blythe, Camilla
Horsfall, Julia Tilley |
|
|
UK: +44 207 138
3204 |
|
|
|
|
|
SP Angel
Corporate Finance LLP |
|
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Nominated Adviser and
Joint Broker |
|
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Jeff Keating, Caroline
Rowe |
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UK: +44 20 3470
0470 |
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Alternative
Resource Capital |
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Joint
Broker |
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Alex
Wood, Rob Collins |
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UK:
+44 20 7186 9004; +44 20 7186 9001 |
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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 |
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2. |
Reason for the notification |
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a) |
Position/status: |
Chairman |
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b) |
Initial notification/Amendment: |
Initial notification |
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3. |
Details of the issuer, emission allowance
market participant, auction platform, auctioneer or auction
monitor |
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a) |
Name: |
Mkango Resources Ltd |
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b) |
LEI: |
213800RPILRWRUYNTS85 |
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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 without par value |
|
Identification code: |
CA60686A4090 |
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b) |
Nature of the transaction: |
Purchase of warrants |
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c) |
Price(s) and volume(s): |
|
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Price(s) |
Volume(s) |
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2.4 pence |
3,333,333 |
|
|
|
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d) |
Aggregated information: |
Single transaction as in 4 c) above |
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Aggregated volume: |
Price(s) |
Volume(s) |
|
Price: |
2.4 pence |
3,333,333 |
|
|
|
|
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e) |
Date of the transaction: |
4 December 2018 |
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f) |
Place of the transaction: |
Outside a trading venue |
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