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The consideration for the acquisition comprised of 54,1666,666 common shares at a deemed value of £0.24 per share.
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London / Vancouver: January 7, 2021 - Mkango Resources Ltd. (AIM/TSX-V: MKA) (the "Company" or "Mkango") is pleased to announce that it has received TSX-V approval for the cashless warrant exercise by Talaxis Limited ("Talaxis") announced on 4 January 2021, whereby Talaxis will be issued with 1,000,000 Shares ("New Shares") in lieu of payment for 12,000,000 Shares at 6.6 pence. This significantly reduces the dilution to other Mkango shareholders and avoids the Company issuing 12,000,000 shares at a significant discount to the current market price of Mkango Shares. Following the issuance ...
go 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 four exclusive prospecting licenses in Malawi: the Phalombe licence, the Thambani licence, the Chimimbe Hill licence and the Mchinji licence. The main exploration target in the 51% held Phalombe licence is the Songwe Hill rare earths deposit. This features carbonatite-hosted rare earth mineralisation and was subject to previous exploration in the late 1...